Bitcoin Whale Deposits $445 Million, Is Another Sell-Off And Crash Coming?
A Bitcoin whale, identified as "Bitcoin OG (1011short)," deposited 5,152 BTC (worth approximately $445 million) into Binance, raising concerns of a potential sell-off. Such large movements to exchanges often indicate preparation for selling, which could increase market pressure. This occurs as Bitcoin's price remains fragile, struggling to maintain bullish momentum and recently falling to a 24-hour low of $84,581. The same whale, despite holding significant long positions in Bitcoin, Ethereum, and Solana, has seen profits drop by over $70 million. Additionally, another whale exhibited bearish behavior by selling BTC and opening leveraged short positions. On-chain data suggests recent accumulation-like activity is merely internal wallet reshuffling rather than organic buying, leaving the market vulnerable.
bitcoinist12/19 19:05