Whales Sell Bitcoin (BTC) For 18.25 Million USD

Bittime - Crypto whales just sold 300 Bitcoins worth $18.25 million, impacting the Bitcoin market significantly. To find out more details, read the description!

Whales Sell Bitcoin (BTC) For 18.25 Million USD

A TechFlow report shows that crypto whales recently sold 300 Bitcoins (BTC) worth around $18.25 million USD, a transaction that occurred about forty minutes ago and represents a major impact on the Bitcoin market.

Whales Transaction Details Sell Bitcoin (BTC)

According to Lookonchain, this large investor purchased 855 Bitcoins in July for a total value of around $54.6 million at a price of $63,878 per BTC. 

However, due to unfavorable market movements on August 5, he decided to sell 297 Bitcoins, worth around $15.8 million, at a loss.

Today, whales continued their selling strategy by selling an additional 300 Bitcoins for $18.25 million, resulting in an additional loss of approximately $4.8 million for investors. Currently, the investor still holds 259 Bitcoins, or $15.74 million worth.

Read Also: ALPACA Successfully Breaks the Price of $0.24

Loss Analysis and Strategy

The investor previously purchased 210 Bitcoins in late February and early March at an average price of $62,337 per BTC. 

Then on March 6, they sold 209 Bitcoins for $65,165, making a profit of about $528,000. 

However, Bitcoin prices then surged past $73,000 on March 14, indicating that the timing of the transaction was not entirely in investors' favor.

Impact on the Bitcoin Market

Mass selling of whales could increase selling pressure in the market, affect the price of Bitcoin, and cause volatility. In this case, the loss of these large investors reflects the difficulties that large investors face when dealing with crypto price fluctuations.

Conclusion

Behind these transactions is the volatility of the cryptocurrency market and the importance of using the right strategy to manage investments in digital assets such as Bitcoin. 

Big moves like this should be watched by investors and market analysts as clues to potential future market changes. 

Monitoring large transactions will remain a critical component in understanding Bitcoin price dynamics and developing effective investment strategies as long as the crypto market continues to evolve.

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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