đ $57 Million Bitcoin Sale Shocks Binance, the Largest Crypto Exchange
Bitcoin (BTC) has bounced back above $63,000, but there's more to the story. The price attempted to push past the $64,000 mark but faced strong resistance at $65,000. While this isn't a major concern, some large investors, known as whales, seem cautious.
Whale Alert, a top crypto tracking service, reported a huge Bitcoin sale by an unknown whale. They tweeted that 903 BTC, worth around $57 million at the time, was moved from a private wallet to Binance, the worldâs largest crypto exchange.
This large transfer is important because it could impact market sentiment. Investors are still hopeful about Bitcoin's short-term performance. But if whales, who usually hold large amounts for long periods, begin selling, it could create fear and uncertainty in the market.
đž Bitcoinâs Price Response
Many smaller traders and retail investors follow the trading patterns of big investors like whales. A big sell-off could trigger more selling, turning the market outlook from positive to negative. Itâs unclear yet if this recent whale sale will have such an effect.
As of now, Bitcoin is trading at $63,113, up 1.73% in the last 24 hours. Despite failing to break through $64,000, Bitcoin is holding above $63,000. If it stays above this level, it could make another attempt to reach the $65,000 resistance level, which might lead to a stronger rally.#Write2Earn! #Write2Earn! #Write2Earn! #Write2Earn! #Write2Earn!
