Bitcoin Price Pressure Builds After Whale Moves 25,000 BTC ⋆ ZyCrypto
The post Bitcoin Price Pressure Builds After Whale Moves 25,000 BTC ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     A massive Bitcoin sell-off by a long-dormant whale is adding fresh downward pressure to the market. Data show the whale’s wallet – traced back to the early Bitcoin era – moved 25,000 BTC this weekend, sparking a sharp price drop in an illiquid market segment. The transfer “sparked a flash crash,” sending Bitcoin briefly under $109,000 for the first time since early July. The sudden volatility liquidated hundreds of millions in leveraged positions, as longs were caught off guard by the whale’s latest offload. Prior Bitcoin Dump and Flash Crash Just one week earlier, the same whale had dumped 24,000 BTC (approximately $2.7 billion) from its 150,000+ BTC stash. According to on-chain data, the Sunday sell-off drove Bitcoin down from approximately $115,598 to $110,721 in just minutes. The dump triggered a sharp price drop by $4K within minutes. That move wiped out roughly $45 billion of Bitcoin’s market capitalization. Even after this massive sale, the Bitcoin whale still held around 152,874 BTC (about $17 billion). In other words, this week’s 25,000 BTC sale appears to be another partial liquidation, not an exit from the market. Advertisement   The latest transfer came in an illiquid market setting, intensifying the crash. Over the past 24 hours, Bitcoin has declined by roughly 1.5%, trading at around $108,500. Source: X Last week, volatility was enough to “toast” over $900 million in leveraged futures bets, predominantly hurting long positions. In short, the whale’s repeated large sales have set off a cascade of forced liquidations and margin calls. Market Reaction and Outlook The double whammy of 24,000 and 25,000 BTC sales has put key technical levels under threat. Bitcoin briefly closed below $109,000, the lowest since early July. MEXC Ventures’ analysts say BTC is now at an “inflection point.” Without new macro catalysts…
The post Bitcoin Price Pressure Builds After Whale Moves 25,000 BTC ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement A massive Bitcoin sell-off by a long-dormant whale is adding fresh downward pressure to the market. Data show the whale’s wallet – traced back to the early Bitcoin era – moved 25,000 BTC this weekend, sparking a sharp price drop in an illiquid market segment. The transfer “sparked a flash crash,” sending Bitcoin briefly under $109,000 for the first time since early July. The sudden volatility liquidated hundreds of millions in leveraged positions, as longs were caught off guard by the whale’s latest offload. Prior Bitcoin Dump and Flash Crash Just one week earlier, the same whale had dumped 24,000 BTC (approximately $2.7 billion) from its 150,000+ BTC stash. According to on-chain data, the Sunday sell-off drove Bitcoin down from approximately $115,598 to $110,721 in just minutes. The dump triggered a sharp price drop by $4K within minutes. That move wiped out roughly $45 billion of Bitcoin’s market capitalization. Even after this massive sale, the Bitcoin whale still held around 152,874 BTC (about $17 billion). In other words, this week’s 25,000 BTC sale appears to be another partial liquidation, not an exit from the market. Advertisement The latest transfer came in an illiquid market setting, intensifying the crash. Over the past 24 hours, Bitcoin has declined by roughly 1.5%, trading at around $108,500. Source: X Last week, volatility was enough to “toast” over $900 million in leveraged futures bets, predominantly hurting long positions. In short, the whale’s repeated large sales have set off a cascade of forced liquidations and margin calls. Market Reaction and Outlook The double whammy of 24,000 and 25,000 BTC sales has put key technical levels under threat. Bitcoin briefly closed below $109,000, the lowest since early July. MEXC Ventures’ analysts say BTC is now at an “inflection point.” Without new macro catalysts…
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