Giant Whale Sold 114 Million Dollars of Bitcoin, CryptoQuant CEO Warned! “BTC is Boring Now, but Offers a Historical Opportunity!”
According to data, a whale or institution transferred $114 million worth of Bitcoin to Binance.
Bitcoin, which started the new week and the new month positively, rose to $63,800 yesterday. However, affected by the market activity, BTC fell back to $ 62,500.
While large amounts of BTC transfers were effective in this decline, a whale or institution transferred $114 million worth of BTC to Binance.
This large transaction by the institutional whale shook the entire market and dropped the Bitcoin price below $63,000. In addition, investors' anxiety about a possible sales wave in BTC increased.
According to Spot on Chain's post, a whale deposited 1,800 BTC worth $114 million to Binance just before the price dropped from $63,800 to $62,000.
This whale had withdrawn 6,725 BTC worth $437 million from Binance and OKX between June 19-21 at an average price of $65,000.
The whale currently holds 7,868 BTC worth $496 million.
Pointing out that this whale transferred 3,481 BTC worth $217 million to Binance for only $62,300 in the last 5 days, Spot On Chain stated that the whale tends to sell BTC.
At this point, experts warned investors that if the BTC price rises again, this corporate whale may take advantage of the recovered price and sell a large amount, as it did in the last five days.
Because the whale's BTC transfers may lead to increased volatility in the market and lead to a new selling wave and further price declines.
