Bitcoin whales continue to shake up the market, BTC faces strong selling pressure

On August 29, a Bitcoin whale deposited 2,000 BTC (worth over 216 million USD) on exchange #Hyperliquid and gradually converted to Ethereum, according to data from Hypurrscan.

This is not the first time whales have acted strongly this month. Previously, another whale transferred 670 BTC (~75 million USD) to open a leveraged long position on Ethereum, while a long-time wallet unexpectedly moved 3,000 BTC (~349 million USD) after holding for 10 years. Notably, in July, a mysterious whale "awakened" 80,000 $BTC after 14 years, a deal executed by Galaxy Digital – considered one of the largest Bitcoin transactions in history.

These movements raise concerns about selling pressure. In fact, Bitcoin has dropped more than 2% in 24 hours, currently trading around just under 110,000 USD, nearly 12% lower than the historical peak of 124,128 USD reached last month. Data from #Myriad shows that 70% of traders predict BTC could fall to 105,000 USD instead of breaking to a new record.

⚠️ Risk warning: Whale activities often cause significant volatility in the market. Investors should manage capital carefully and avoid getting swept up in crowd psychology when Bitcoin is in a sensitive phase. #anhbacong