Large Bitcoin holders, known as whales, have sold or redistributed approximately 30,000 BTC, worth over $1.8 billion, in the past three days. This comes as the price of Bitcoin has dropped from a high near $64,000 to around $60,700, resulting in the overall cryptocurrency market losing nearly $100 billion in value. Recent analysis suggests that short-term BTC holders have been gradually exiting the market, reducing selling pressure and potentially stabilizing the market. Whales, who have been accumulating BTC during the latest bull run, are looking for profit opportunities.
- Content Editor ( cryptoglobe.com )
- 2024-10-11
Bitcoin Whales Redistribute 30,000 BTC Worth $1.8 Billion in Major Sell-Off