{"id":450990,"date":"2020-11-28T01:00:56","date_gmt":"2020-11-28T01:00:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=450990"},"modified":"2024-06-11T14:08:49","modified_gmt":"2024-06-11T14:08:49","slug":"whales-dump-ahead-of-bitcoin-ath-more-than-93k-btc-sold-since-peak","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/whales-dump-ahead-of-bitcoin-ath-more-than-93k-btc-sold-since-peak\/","title":{"rendered":"Whales Dump Ahead Of Bitcoin ATH, More Than 93K BTC Sold Since Peak"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin-price\/\" rel=\"nofollow\">Bitcoin price<\/a> is now trading at roughly 15% less than it was just days ago, falling short of setting a new all-time high by just a few hundred dollars.<\/p>\n<p>A new record was so close bulls could taste the victory, but the achievement was blocked by massive whales who reloaded centralized crypto exchanges with a flood of BTC to be dumped, stopping the rally in its tracks. Here&#8217;s what this could mean for the crypto market over the next few weeks.<\/p>\n<h2>Whales Flood Crypto Exchanges With 93K BTC, Bring Bitcoin Rally To Abrupt End<\/h2>\n<p><a href=\"https:\/\/uniquehot.com\/analysis\/btc\/time-to-pay-attention-where-the-bitcoin-bull-market-correction-might-end\/\">Bitcoin was moments away from making history<\/a>, setting a new all-time high in price and breaking the 2017 crypto bubble record. New BTC addresses are at record highs, as is hash rate, and even the cryptocurrency&#8217;s market cap. But so far, price couldn&#8217;t yet follow.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/time-to-pay-attention-where-the-bitcoin-bull-market-correction-might-end\/\">Time To Pay Attention: Where The Bitcoin Bull Market Correction Might End<\/a><\/strong><\/em><\/p>\n<p>A new all-time high in Bitcoin price could create a <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoins-monthly-open-points-to-fomo\/\">storm of FOMO<\/a>, which whales potentially sought to stop just before the record was broken.<\/p>\n<p>According to on-chain analytics, whales began moving BTC en masse to centralized crypto exchanges like Coinbase in the days and hours leading up to the near-recording breaking finish to the recent rally.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Whales have been moving <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> into exchanges.<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> has faced a steep correction since Wednesday\u2019s highs of $19,600<\/p>\n<p>This drop started as soon as whales began to deposit BTC to exchanges. More than 93 thousand Bitcoin&#39;s were deposited into centralized exchanges. <a href=\"https:\/\/t.co\/ntq1yIlDeV\" rel=\"nofollow\">pic.twitter.com\/ntq1yIlDeV<\/a><\/p>\n<p>&mdash; IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/29459200?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 27, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/uniquehot.com\/analysis\/btc\/heres-where-a-bitcoin-bear-whale-has-put-up-a-massive-sell-wall\/\">Sell walls on Coinbase<\/a> were reported, and whale watching on various crypto quant platforms were giving signs of their activity just before the selloff began.<\/p>\n<h2>Over $15 Billion In Profit Taken Since Peak Was Put In<\/h2>\n<p>Whales moved and sold as much as 93 BTC since the peak at $19,500, or roughly $1.5 billion in profit taken even at an average sell price of $17,000 per coin.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-450998 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/bitcoin-whales-.png?fit=860%2C860\" alt=\"bitcoin whale\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Whales got in the way of the crypto asset setting a new all-time high price record | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Where the rally stopped is notable for narrative-sake. Double-tops are notorious for causing unbreakable resistance, and the current price action is a candidate for such a top formation.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-indicator-reaches-historical-extreme-price-sheds-two-thirds-upon-reversal\/\">Bitcoin Indicator Reaches Historical Extreme: Price Sheds Two Thirds Upon Reversal<\/a><\/strong><\/em><\/p>\n<p>It could be enough to cause a bearish wave of doubt in the cryptocurrency, just as some negative news begins trickling into the market, in terms of self-custody regulation in the US.<\/p>\n<p>The double-top narrative caused by <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-indicator-reaches-historical-extreme-price-sheds-two-thirds-upon-reversal\/\">whales taking profit during<\/a> an extremely profitable year could provide the sentiment necessary for the final shakeout before the cryptocurrency goes full parabolic and races to its next peak.<\/p>\n<p>All that starts with a break of the previous all-time high. Will whales continue to block the new record, or will the crypto asset&#8217;s unstoppable bullish momentum leave whales underwater?<\/p>\n<pre>Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is now trading at roughly 15% less than it was just days ago, falling short of setting a new all-time high by just a few hundred dollars. A new record was so close bulls could taste the victory, but the achievement was blocked by massive whales who reloaded centralized crypto exchanges with a flood of BTC to be dumped, stopping the rally in its tracks. Here&#8217;s what this could mean for the crypto market over the next few weeks. Whales Flood Crypto Exchanges With 93K BTC, Bring Bitcoin Rally To Abrupt End Bitcoin was moments away from making history, setting a new all-time high in price and breaking the 2017 crypto bubble record. New BTC addresses are at record highs, as is hash rate, and even the cryptocurrency&#8217;s market cap. But so far, price couldn&#8217;t yet follow. Related Reading | Time To Pay Attention: Where The Bitcoin Bull Market Correction Might End A new all-time high in Bitcoin price could create a storm of FOMO, which whales potentially sought to stop just before the record was broken. According to on-chain analytics, whales began moving BTC en masse to centralized crypto exchanges like Coinbase in the days and hours leading up to the near-recording breaking finish to the recent rally. Whales have been moving $BTC into exchanges.#Bitcoin has faced a steep correction since Wednesday\u2019s highs of $19,600 This drop started as soon as whales began to deposit BTC to exchanges. More than 93 thousand Bitcoin&#39;s were deposited into centralized exchanges. pic.twitter.com\/ntq1yIlDeV &mdash; IntoTheBlock (@intotheblock) November 27, 2020 Sell walls on Coinbase were reported, and whale watching on various crypto quant platforms were giving signs of their activity just before the selloff began. Over $15 Billion In Profit Taken Since Peak Was Put In Whales moved and sold as much as 93 BTC since the peak at $19,500, or roughly $1.5 billion in profit taken even at an average sell price of $17,000 per coin. Whales got in the way of the crypto asset setting a new all-time high price record | Source: BTCUSD on TradingView.com Where the rally stopped is notable for narrative-sake. Double-tops are notorious for causing unbreakable resistance, and the current price action is a candidate for such a top formation. Related Reading | Bitcoin Indicator Reaches Historical Extreme: Price Sheds Two Thirds Upon Reversal It could be enough to cause a bearish wave of doubt in the cryptocurrency, just as some negative news begins trickling into the market, in terms of self-custody regulation in the US. The double-top narrative caused by whales taking profit during an extremely profitable year could provide the sentiment necessary for the final shakeout before the cryptocurrency goes full parabolic and races to its next peak. All that starts with a break of the previous all-time high. Will whales continue to block the new record, or will the crypto asset&#8217;s unstoppable bullish momentum leave whales underwater? Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":450991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,4524,76835],"class_list":["post-450990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Whales Dump Ahead Of Bitcoin ATH, More Than 93K BTC Sold Since Peak<\/title>\n<meta name=\"description\" content=\"Bitcoin price is now trading at roughly 15% less than it was just days ago, falling short of setting a new all-time high by just a few hundred dollars. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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