👀👀Why the Bitcoin Whale Is Avoiding Breakeven: Sold for $65 Million! 💥💥
A Bitcoin whale has started selling tens of millions of dollars at breakeven.
A whale that bought large amounts of Bitcoin in recent months and remained at a loss for a while has switched to selling. According to data provided by on-chain analysis platform Lookonchain, this whale decided to sell 1,030 BTC worth $64.27 million on September 20 at breakeven.
This whale bought a total of 5,404 BTC worth $352.97 million on Binance between March 18 and May 16, and the average cost of these purchases was recorded as $65,318. Since May 21, it has sold 4,856 BTC worth $317.87 million at $65,459, exiting its investment slightly above the breakeven price.
This selling move by the whale has led to increased speculation in the market. While large sales usually put pressure on the market in the short term, understanding the behavior of whales is considered an important source of strategic information for other investors.
However, the real reason for this sale remains unclear.
Bitcoin, which has increased by 3% in the last 24 hours, is trading at $62,700 at the time of writing.
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