Bitcoin Crash Linked to Whale Activity: $1.8 Billion in BTC Transferred! đš
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In the past three days, Bitcoin whales have been on the move, transferring $1.8 billion (thatâs 30,000 BTC). This massive whale activity coincided with Bitcoinâs price drop from $64,000 to around $60,700, erasing $100 billion from the crypto marketâs value.
The sell wave was first reported by crypto analyst Ali Martinez on X, raising eyebrows across the community. With short-term BTC holders âslowly exitingâ the market, the selling pressure appears to be decreasing. According to CryptoQuant analyst IT Tech, this could signal a bottom for Bitcoin, as those coins are finding their way into stronger hands.
IT Tech also noted that BTC is undergoing a unique accumulation phase, fluctuating between $56,000 and $65,000 without a clear direction yet. The upcoming US presidential elections could be a turning point for BTC, especially if Donald Trump is re-elected, which might trigger a bullish trend in the crypto market.
Whalesâ buying movements would restore confidence among smaller investors, potentially driving BTC back towards ATH levels.
Is a new Bitcoin rally just around the corner? Stay tuned for more whale moves and market shifts.
Disclaimer: Third-party opinions included. Not financial advice. May include sponsored content.
