price Bitcoin (BTC) The last few days have finally turned green again. The price of the cryptocurrency king was close to $24,000 at the time of writing. However, the world’s largest bitcoin whale immediately saw its opportunity to make some profits. He sold over $1 billion worth of BTC in two days.
Bitcoin whale goes to work
This whale has sold more than 46,000 bitcoins since July 18, according to Data from Bitinfocharts. These bitcoins are worth about $1.08 billion. In some trades that most investors would not dream of, the anonymous whale gives up a significant portion of its portfolio.
On July 18, the whale had more than 132,000 bitcoins on its balance sheet. Initially, 15,500 BTC were sold. The first notable trade was selling 500 bitcoins, then 2,500 bitcoins in the second and third trades, and 5,000 bitcoins in the fourth and fifth trades. Starting on July 19, the whale accelerated through two trades of 10,000 BTC and then 20,000 BTC on July 20. Today, after this serious sale, the total balance of the whale has dropped to just 71,000 BTC.
Private investors often look closely at whale business. These big investors have a big finger in the cake when it comes to influencing Bitcoin price Reaches. So many investors are currently looking for reasons to sell the whale a billion dollars in BTC.
Sometimes the sale of whales is seen as a bearish Signal. People can imitate whale selling behavior, which can lead to a lower price. In addition, whales of course have a lot of power over price due to the large amount of coins they possess. At the moment, it appears that the whale’s big sale has little effect on the price.
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