Whale is Flooding Bitcoin into Binance: Middle East Tensions Trigger Sales!
While the price of Bitcoin is falling due to tensions in the Middle East, a large whale has deposited $106 million worth of Bitcoin (BTC) into the Binance exchange and continues to sell.
The recent sharp decline in the price of Bitcoin (BTC) is largely attributed to the increasing geopolitical tensions in the Middle East. Following Israel's extensive airstrikes on Iran's nuclear facilities, a state of panic has dominated the market. This uncertain environment has led major investors to sell, while the movements of whales provide significant signals for the market.
Notably, an investor known as a large whale, identified by wallet address 12d1e4, deposited 1,000 BTC into the Binance exchange in the last two hours. This move by the whale indicates that approximately $106 million worth of Bitcoin is ready for sale. This whale has attracted attention by selling a total of 6,500 BTC for approximately $585 million since April 2024. The whale still holds 3,500 BTC (approximately $363.5 million).
Panic prevails in the markets
Bitcoin (BTC) has dropped over 4% in the last 24 hours, falling to $103,000, influenced by the Israel-Iran tension. Ethereum (ETH) has also experienced a decline of over 10%, dropping to $2,468. These sharp sales indicate that investors are seeking safe havens due to geopolitical risks.
Analysts warn that as uncertainty in the Middle East continues, volatility in the cryptocurrency market will remain high, emphasizing that investors need to be cautious in the short term.
