The corporate whale recently made headlines by adding a new Bitcoin sale to its list.
According to data provided by on-chain analysis platform Lookonchain, digital asset manager Ceffu started selling Bitcoin on September 12.
Recent data revealed that Ceffu transferred 683 BTC worth $38.6 million to cryptocurrency exchange Binance.
The exchange sold 3,063 BTC worth $182 million just a week ago. Bitcoin’s failure to rise above $58,000 may have caused the institutional whale to sell, leaving it in limbo.
Such actions, especially by institutional investors, have the potential to direct general trends and price movements in the cryptocurrency market.
In addition to Ceffu’s sell-off, the actions of other large investors and whales could also have a significant impact on market trends.
According to CoinGecko data, Bitcoin, which has increased by 1% in the last 24 hours, is traded at $56,354 at the time of writing.
Stay tuned for new information.
