Single Bitcoin Whale Dumps 24,000 BTC, Crashing the Market
The post Single Bitcoin Whale Dumps 24,000 BTC, Crashing the Market appeared on BitcoinEthereumNews.com. Whale dumped 24,000 BTC, triggering $310M liquidations across crypto markets. Bitcoin struggles to hold $112K support, rebound toward $120K possible. Bitcoin dominance dropped near 50%, fueling hopes of altcoin season. The latest flash crash in Bitcoin was not a signal of a market top, but rather a massive, strategic rotation of capital. A single, long-dormant whale cashed out over $2 billion in Bitcoin, but instead of leaving the market, they immediately rotated those funds into Ethereum. The global crypto market cap slipped to $3.93 trillion, weighed down by this Bitcoin’s sudden plunge. Ethereum traded at $4,723.13, still holding relatively firm with a 1.36% gain on the week. Despite red candles across the board, analysts say the correction could be short-lived, provided Bitcoin holds a key support zone. Whale Dump Behind $310 Million Wipeout The sharp sell-off was triggered by a single Bitcoin whale, who dumped over 24,000 BTC in the past few days. This caused a flash crash that erased $310 million in long positions in just hours. The whale sold coins that had not moved in more than five years, sending more than 12,000 BTC today alone to the Hyperunite trading platform. So far, the whale has liquidated over 18,000 BTC worth $2 billion, while another 6,000 BTC valued at $670 million remain on track to be sold. Interestingly, most of the proceeds are being shifted into Ethereum, with $2 billion in ETH purchased and more than $1.3 billion staked. Levels to Watch: $112,000 and $120,000 The sell-off has pushed Bitcoin down to its most critical support level. Analyst Ali Martinez said that Bitcoin holding above $112,000 is all that’s needed for a rebound back to $120,000. He’s charted BTC price repeatedly defending the $112,000 support level, with multiple bounces from this zone in August. If this support were…
The post Single Bitcoin Whale Dumps 24,000 BTC, Crashing the Market appeared on BitcoinEthereumNews.com.
Whale dumped 24,000 BTC, triggering $310M liquidations across crypto markets. Bitcoin struggles to hold $112K support, rebound toward $120K possible. Bitcoin dominance dropped near 50%, fueling hopes of altcoin season. The latest flash crash in Bitcoin was not a signal of a market top, but rather a massive, strategic rotation of capital. A single, long-dormant whale cashed out over $2 billion in Bitcoin, but instead of leaving the market, they immediately rotated those funds into Ethereum. The global crypto market cap slipped to $3.93 trillion, weighed down by this Bitcoin’s sudden plunge. Ethereum traded at $4,723.13, still holding relatively firm with a 1.36% gain on the week. Despite red candles across the board, analysts say the correction could be short-lived, provided Bitcoin holds a key support zone. Whale Dump Behind $310 Million Wipeout The sharp sell-off was triggered by a single Bitcoin whale, who dumped over 24,000 BTC in the past few days. This caused a flash crash that erased $310 million in long positions in just hours. The whale sold coins that had not moved in more than five years, sending more than 12,000 BTC today alone to the Hyperunite trading platform. So far, the whale has liquidated over 18,000 BTC worth $2 billion, while another 6,000 BTC valued at $670 million remain on track to be sold. Interestingly, most of the proceeds are being shifted into Ethereum, with $2 billion in ETH purchased and more than $1.3 billion staked. Levels to Watch: $112,000 and $120,000 The sell-off has pushed Bitcoin down to its most critical support level. Analyst Ali Martinez said that Bitcoin holding above $112,000 is all that’s needed for a rebound back to $120,000. He’s charted BTC price repeatedly defending the $112,000 support level, with multiple bounces from this zone in August. If this support were…
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