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COINTURK NEWS > Bitcoin (BTC) > Bitcoin Whale Moves Significant Amounts, Sparks Market Speculation
Bitcoin (BTC)

Bitcoin Whale Moves Significant Amounts, Sparks Market Speculation

In Brief

  • A Bitcoin whale transferred 300 BTC to Binance, causing market speculation.

  • The whale's past sales strategies show dynamic market response.

  • Current Bitcoin trading shows fluctuations but significant weekly gains.

Ömer Ergin
Ömer Ergin 7 months ago
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A Bitcoin (BTC) $105,098 whale has recently gained attention with a notable transaction involving a significant amount of BTC. According to on-chain data provider Lookonchain, this investor, holding approximately 8,000 BTC worth around $6.99 billion, transferred 300 BTC (approximately $26.27 million) to the Binance exchange. This transaction by the large investor has led to speculation in the cryptocurrency market.

Contents
Previous High-Value SalesWhale Activity Raises Investor Concerns

Previous High-Value Sales

Data indicates that this whale previously sold 2,000 BTC at a unit price of $67,130 on April 4 and April 5, 2024, earning a total profit of $132.4 million. This sales move occurred after the price of the largest cryptocurrency reached its peak at that time.

Now, the investor appears to signal a return to the market by transferring a smaller amount of Bitcoin to Binance. This action suggests that the investor dynamically adjusts their sales strategy based on market movements.

Whale Activity Raises Investor Concerns

In the past 10 hours, the whale moved 2,000 BTC for sale, raising concerns among market participants. The whale transferred 300 BTC to the Binance exchange, and such large transfers often lead to speculation about a decline, exerting selling pressure on the market.

Currently, Bitcoin is trading at $87,329, reflecting a 1.19% decrease in the past 24 hours. Despite this drop, data shows that the major cryptocurrency has surged by 17.89% over the last week. Additionally, Bitcoin’s trading volume in the last 24 hours exceeded $115 billion, with a total market capitalization of $1.72 trillion.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 13 November, 2024 - 3:08 pm 13 November, 2024 - 3:08 pm
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