👀👀Bitcoin Whale Leaves the Table: Sent $360 Million to Binance in 3 Days 👀👀
Bitcoin reached an all-time high (ATH) of $93,300, but after reaching this historic peak, it retreated to $87,000 in a short time due to selling pressure.
The excitement created by the price movements in the market was further increased by data shared by on-chain analysis platform Lookonchain. According to the data, on November 15, a whale transferred 1,920 BTC worth approximately $169 million to the Binance exchange. The same whale reportedly sent a total of 4,060 BTC (approximately $361 million) to Binance in the last three days alone.
Such large Bitcoin transfers usually indicate that there may be a significant price change in the market. In particular, large transfers to exchanges may be perceived by investors as preparations for sales, which may lead to panic selling. However, it should be noted that whale movements do not always have the same effect; these transfers may sometimes be made for depositing collateral for derivative transactions or other strategic moves.
At the time of writing, Bitcoin was trading at $87,800, losing 2% in value in the 24-hour period.
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