{"id":643732,"date":"2024-09-22T10:00:06","date_gmt":"2024-09-22T10:00:06","guid":{"rendered":"https:\/\/uniquehot.com\/?p=643732"},"modified":"2024-09-22T07:22:39","modified_gmt":"2024-09-22T07:22:39","slug":"bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold\/","title":{"rendered":"Bitcoin Whales Take Profit After Latest Price Jump \u2014 Here\u2019s How Much They Sold"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The latest on-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally. The question here is \u2014 how much did they sell and how much impact could it have on the <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-final-cycle-pump-puts-price-as-high-as-200000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin price trajectory<\/a>?<\/span><\/p>\n<h2><b>Bitcoin Whales Dump 30,000 BTC In Four Days \u2014 Impact On Price?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">In a new post on the X platform, prominent crypto pundit Ali Martinez <a href=\"https:\/\/x.com\/ali_charts\/status\/45561648\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> that Bitcoin whales have been increasingly active in the market in the days following BTC&#8217;s return to above $63,000. This on-chain observation is based on the drop in the total holdings of whales with balances between 1,000 and 10,000 BTC.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/228-million-in-xrp-whales\/\" target=\"_blank\" rel=\"noopener \">Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction<\/a><\/div>\n<p><span style=\"font-weight: 400\">According to data from Santiment, this cohort of Bitcoin whales has offloaded more than 30,000 BTC (worth around $1.86 billion) in the past 96 hours. Interestingly, this level of whale activity came after the premier cryptocurrency witnessed a price upswing triggered by the interest rate cut by the US Federal Reserve.<\/span><\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GYAMxUcWMAA0Ihj?format=jpg&amp;name=medium\" alt=\"Bitcoin\" width=\"1200\" height=\"543\"><figcaption class=\"wp-caption-text\">Source: <a href=\"https:\/\/x.com\/ali_charts\/status\/45561648\" target=\"_blank\" rel=\"noopener nofollow\">Ali_charts\/X<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/uniquehot.com\/altcoin\/altcoins-high-whale-interest-fed-rate-cut-data\/\" target=\"_blank\" rel=\"noopener \">Whales<\/a> \u2014 which typically refer to individuals or entities holding significant amounts of a particular cryptocurrency \u2014 are perceived to hold considerable influence over the market due to the size of their holdings. Hence, their buying or selling activities can precipitate abrupt price swings in the short term.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Bitcoin market has been under a considerable amount of bearish pressure so far in September, falling to as low as $53,000 at some point. The Fed rate cut seemed like the perfect catalyst to turn things around and spark a fresh <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-hype-remains-low-63000-surge-green-rally\/\" target=\"_blank\" rel=\"noopener \">bullish momentum<\/a>. However, profit-taking observed amongst the large investors could stall this recovery.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When whales sell off their assets, it often causes other investors to tread the market with caution, as they wonder what the large holders know. This can lead to heightened selling pressure or a momentary price pullback.\u00a0<\/span><\/p>\n<h2><strong>BTC Price At A Glance\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Nevertheless, it is worth mentioning that the <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/crypto-shorts-suffer-134-million-bitcoin-62000\/\" target=\"_blank\" rel=\"noopener \">Bitcoin price<\/a> has made significant movement in the past few days. As of this writing, the flagship cryptocurrency is valued at $63,131, reflecting a mere 0.1% decline in the past day.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to data from CoinGecko, the value of BTC has increased by more than 5% in the past week. The market leader seems to be performing even better on broader timeframes.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/over-150000-eth-moved-to-exchanges-in-the-last-24-hours-whats-next-for-ethereum\/\" target=\"_blank\" rel=\"noopener \">Over 150,000 ETH Moved To Exchanges In The Last 24 Hours: What\u2019s Next For Ethereum?<\/a><\/div>\n<p><span style=\"font-weight: 400\">For instance, the Bitcoin price performance this month has been nothing short of surprising, as September is historically a bearish period for the premier cryptocurrency. BTC is up by more than 6.8% this month, its highest-ever average return in September.<\/span><\/p>\n<figure style=\"width: 2174px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ZlTcSxtc\/\" alt=\"Bitcoin\" width=\"2174\" height=\"1432\"><figcaption class=\"wp-caption-text\">The price of Bitcoin thickening around $63,100 on the daily timeframe | Source: BTCUSDT chart on <a href=\"https:\/\/www.tradingview.com\/x\/ZlTcSxtc\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\"><em>Featured image created with Dall.E, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The latest on-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally. The question here is \u2014 how much did they sell and how much impact could it have on the Bitcoin price trajectory? Bitcoin Whales Dump 30,000 BTC In Four Days \u2014 Impact On Price? In a new post on the X platform, prominent crypto pundit Ali Martinez revealed that Bitcoin whales have been increasingly active in the market in the days following BTC&#8217;s return to above $63,000. This on-chain observation is based on the drop in the total holdings of whales with balances between 1,000 and 10,000 BTC. Related Reading: Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction According to data from Santiment, this cohort of Bitcoin whales has offloaded more than 30,000 BTC (worth around $1.86 billion) in the past 96 hours. Interestingly, this level of whale activity came after the premier cryptocurrency witnessed a price upswing triggered by the interest rate cut by the US Federal Reserve. Whales \u2014 which typically refer to individuals or entities holding significant amounts of a particular cryptocurrency \u2014 are perceived to hold considerable influence over the market due to the size of their holdings. Hence, their buying or selling activities can precipitate abrupt price swings in the short term. The Bitcoin market has been under a considerable amount of bearish pressure so far in September, falling to as low as $53,000 at some point. The Fed rate cut seemed like the perfect catalyst to turn things around and spark a fresh bullish momentum. However, profit-taking observed amongst the large investors could stall this recovery. When whales sell off their assets, it often causes other investors to tread the market with caution, as they wonder what the large holders know. This can lead to heightened selling pressure or a momentary price pullback.\u00a0 BTC Price At A Glance\u00a0 Nevertheless, it is worth mentioning that the Bitcoin price has made significant movement in the past few days. As of this writing, the flagship cryptocurrency is valued at $63,131, reflecting a mere 0.1% decline in the past day. According to data from CoinGecko, the value of BTC has increased by more than 5% in the past week. The market leader seems to be performing even better on broader timeframes. Related Reading: Over 150,000 ETH Moved To Exchanges In The Last 24 Hours: What\u2019s Next For Ethereum? For instance, the Bitcoin price performance this month has been nothing short of surprising, as September is historically a bearish period for the premier cryptocurrency. BTC is up by more than 6.8% this month, its highest-ever average return in September. Featured image created with Dall.E, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":643734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[87818,428,679,19064,78790,57231],"class_list":["post-643732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-ali-martinez","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-whales","tag-btcusdt","tag-santiment"],"acf":[],"yoast_head":"\n<title>Bitcoin Whales Take Profit After Latest Price Jump \u2014 Here\u2019s How Much They Sold<\/title>\n<meta name=\"description\" content=\"On-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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