Capitulation? Massive #Bitcoin Whale ๐ Dumps ๐ $46 Million in $BTC as Price Plunges.
As the price of the flagship cryptocurrency Bitcoin dropped more than 4% to a low around the $60,000 mark in the beginning of October, a โgiant whaleโ restarted depositing BTC into centralized exchanges.
According to data shared by on-chain analytics firm Spot On Chain on the microblogging platform X (formerly known as Twitter), the whale accumulated 3,933 BTC worth around $234 million on leading cryptocurrency exchange Binance at an average price of $59,591 per coin between the end of August and mid-September.
The whale then started moving 750 BTC, worth around $46.3 million, to Binance at $61,751 per coin as the price of the cryptocurrency dropped, and kept 9,736 BTC worth over $600 million on their wallet, which could still be dumped on the market.
