The Bitcoin price has dropped below $111,000 in the past few hours, ending the surge recorded on Friday after a dovish speech by Federal Reserve Chairman Jerome Powell, where one whale sold massive amounts in weak market conditions.
The price of the cryptocurrency fell by more than 2% from $114,666 to $112,546 in less than ten minutes. This sudden crash, or flash crash, occurred when one whale sold 24,000 Bitcoins, according to data from Timechainindex.com.
Researcher 'Sani' stated in a post on platform X that 'this entity liquidated its entire balance of 24,000 Bitcoins and sent them all to the Hyperunite wallet, where only 12,000 coins were transferred today and it is still actively selling, which is likely contributing to the continued price decline', adding that the whale still holds a total of 152,874 Bitcoins distributed across multiple addresses, including 5,266 coins.
While cryptocurrency markets are influenced by whale actions and liquidity fluctuations, access to reliable data and real-time analytics has become more important than ever.
Asset funds and continued volatility
Sani explained that this money originally belongs to the HTX platform, where it was transferred from about six years ago, and remained frozen during that period until the recent movements that included one address containing nearly 24,000 Bitcoins.
Prices eventually dropped below $111,000 before recovering to trade around $112,800.
The impact of Powell's speech reflected
This decline erased the gains made on Friday, after it seemed that Federal Reserve Chairman Jerome Powell supported the idea of interest rate cuts while downplaying the impact of tariffs imposed by President Donald Trump on long-term inflation, during his annual speech at Jackson Hole.
The dovish speech led to a rise in Bitcoin by about 4% from $112,500 to $116,900, alongside a surge in U.S. stocks and a decline in the dollar index.
During the weekend, analysts expressed confidence that interest rate cuts could happen in September, which may pave the way for new historical peaks for both Bitcoin and Ethereum $BTC