🚨 Bitcoin whales are shedding 24,000 $BTC – Market Collapse
Over the weekend, Bitcoin dropped after a whale sold 24,000 BTC worth $2.7 billion, causing prices to plummet by $4,000 within minutes to a low near $110.5K. Despite this massive sale, the entity still holds 152,874 BTC worth $17 billion.
On-chain analyst Sani reported that the whale had kept these coins intact for over 5 years before transferring them to Hyperunite for liquidation. Over 12,000 BTC were sold in a single day, and activity suggests that the whale may continue selling.
Prominent analyst Willy Woo explained why BTC growth seems slow this cycle: OG whales who bought at $10 or less are offloading huge amounts. "It takes over $110K in new capital to absorb each BTC they sell," Woo noted.
Meanwhile, funds are flowing into $ETH. Another whale sold 18,142 BTC ($2 billion) and converted most into ETH, buying a total of 416K ETH, with 275.5K ETH ($1.3 billion) already staked. Even smaller whales are joining the movement, with $76 million in BTC used to open long positions in ETH.
The sudden cascade triggered widespread liquidations, but analysts remain optimistic. Alex Krüger believes that BTC could rebound once the momentum clears and the price recovers to $113.5K – $114K. Vijay Boyapati called this whale sale a healthy release of supply, part of Bitcoin's long-term monetization cycle.
📉 BTC is currently trading around $112.7K, with the RSI signaling oversold levels — but no clear reversal at the moment.
