Crypto Whale Makes $150 Million Mega Move: Which Coins Did They Sell?
Crypto whales’ large sales of Bitcoin and Ethereum significantly influence market trends. According to recent data, whales have moved over $148 million worth of crypto assets to various exchanges. Last week, Bitcoin dropped to $58,500 but showed signs of recovery, attempting to rebound. It nearly reached $64,000 on Monday before increased selling pressure pushed prices below $63,000.
Crypto Whales’ Market Influence: $148 Million Moved Amid Bitcoin and Ethereum Sales
On Monday, a crypto whale associated with wallet address 3G98j transferred 1,800 BTC to Binance at $63,333, typically indicating an intention to convert to cash. Spot On Chain reported, ‘The whale started dumping BTC and then the Bitcoin price started to fall.’ Between June 19-21, the crypto whale withdrew 6,725 BTC (worth $437 million) from Binance and OKX.
Ethereum Records Similar Whale Activities. On Monday, the wallet 0xedo associated with Abraxas Capital deposited approximately 42,000 ETH worth $34.78 million into Bitfinex. Despite these significant transactions, this crypto whale still holds over $112 million worth of ETH in lending and farming platforms.
Bitcoin ETFs saw inflows of $129 million on Monday, with Fidelity Wise Origin Bitcoin Fund leading with $65 million. Despite crypto whale sales, Bitcoin bull Tom Lee predicts Bitcoin will reach $150,000 by year-end.
The contradiction between whale sales and significant ETF inflows highlights the complex and contradictory forces shaping the crypto market. Such insights are crucial for predicting market changes and safeguarding investments.
Note: This is not investment advice
