Mysterious Bitcoin whale's new move: Risk of decline!

Whales that took action along with the increase in Bitcoin prices have worried crypto investors.

A mysterious whale deposited 750 Bitcoins () worth approximately $ 47.9 million to Binance. This transaction, which was made about a few hours ago, is generally interpreted as a sell-side transaction. The timing of the Bitcoin transfer suggests that the whale is taking advantage of current market conditions and is likely expecting short-term price fluctuations.

The same whale reached 1,115 BTC ($ 65.1 million) from Binance at an average of $ 58,382 in early September. The purchase in question shows that the whale accumulates Bitcoin at favorable prices during consolidation periods. The accumulation process reflects a typical whale strategy.

According to Spot on Chain, the whale currently holds 3,083 BTC worth $ 196.9 million. In the last trading period, this whale earned an estimated $ 80.5 million, which means a return of 44%. This profit means acting wisely according to market cycles.

Such large transfers from whales can have a significant impact on the market. Whale deposits on exchanges like Binance are often followed by sharp market movements as traders and investors anticipate possible sell-offs. A deposit of 750 BTC could indicate that the whale is hoping to make a profit, which could affect the price of Bitcoin in the short term.

When BTC is priced at a critical resistance level, this could increase whale activity as other traders try to anticipate a possible sell-off or respond to the influx of supply on the exchange.

(Not Investment Advice)

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