{"id":597649,"date":"2024-03-13T14:30:38","date_gmt":"2024-03-13T14:30:38","guid":{"rendered":"https:\/\/wncen.com\/?p=597649"},"modified":"2024-06-11T07:02:31","modified_gmt":"2024-06-11T07:02:31","slug":"bitcoin-whales-cashing-out","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-whales-cashing-out\/","title":{"rendered":"Bitcoin Whales Are Cashing Out Amid Push To New All-Time High"},"content":{"rendered":"

As the Bitcoin price continues on an upward trajectory that has sent it toward new all-time highs<\/a>, breaking above $73,000 this week. With this increase, the vast majority of BTC holders<\/a> are currently seeing a profit, and large whales are taking advantage of this to cash out some profit.<\/p>\n

Large Bitcoin Whales Sell-Off Coins<\/h2>\n

Crypto analyst Ali Martinez took to X (formerly Twitter) to share<\/a> a chart that showed that large Bitcoin whales were selling off some of their coins. These large whales are those that hold at least 1,000 BTC<\/a> in their wallet, which means on the lower end, these whales are holding at least $73 million worth of Bitcoin on their balances.<\/p>\n

Related Reading: Cardano Price About To Explode: Crypto Pundit Reveals Next Target<\/a><\/div>\n

As the chart shows, there has been a decline in the total number of BTC<\/a> held by these large wallets and this signifies that they have been selling their coins. After the price first ran toward its 2021 all-time high of $69,000, these whales began reducing their allocation.<\/p>\n

The selling began in the month of February and has continued on into the month of March. Over this time, their total balances have reduced, leading to a decrease in the number of wallets that hold more than 1,000 BTC.<\/p>\n

As of February, there were around 2,150 wallets holding more than 1,000 BTC<\/a>. However, in March, this figure has dropped toward 2,040 as the whales shave off their balances to secure some profit during the rally.<\/p>\n

Impact Of Whale Selling On BTC Price<\/h2>\n

Given the size of these wallets, a decision to sell from them can have a notable impact on the BTC price.<\/a> This is because they are able to dump a large amount of supply on the market in a short time and if there is not enough demand to soak it up, then it leads to a crash in the price.<\/p>\n

Related Reading: Shiba Inu Whales Are Accumulating SHIB, Do They Know Something You Don\u2019t?<\/a><\/div>\n

The whale selling could be behind the flash dips that have plagued Bitcoin as it has surged to new all-time highs. One example of this was on Tuesday, March 12, when the price of Bitcoin<\/a> touched $73,000. What followed was a flash crash that sent the price toward $68,000 before it recovered.<\/p>\n

So, while the whales dumping their holdings could have an adverse effect on the price, the performance of BTC in response to this flash crash shows that there is enough demand to meet this supply. In the case of Tuesday, the price would recover quickly to reach a new all-time high of $73,600.<\/p>\n

At this time of this writing, the BTC price<\/a> is still maintaining its hold on $73,000 with a 7-day increase of 10.49%.<\/p>\n

\"Bitcoin<\/p>\n

BTC bulls reclaim control | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Techeconomy, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
As the Bitcoin price continues on an upward trajectory that has sent it toward new all-time highs, breaking above $73,000 this week. With this increase, the vast majority of BTC holders are currently seeing a profit, and large whales are taking advantage of this to cash out some profit. Large Bitcoin Whales Sell-Off Coins Crypto analyst Ali Martinez took to X (formerly Twitter) to share a chart that showed that large Bitcoin whales were selling off some of their coins. These large whales are those that hold at least 1,000 BTC in their wallet, which means on the lower end, these whales are holding at least $73 million worth of Bitcoin on their balances. Related Reading: Cardano Price About To Explode: Crypto Pundit Reveals Next Target As the chart shows, there has been a decline in the total number of BTC held by these large wallets and this signifies that they have been selling their coins. After the price first ran toward its 2021 all-time high of $69,000, these whales began reducing their allocation. The selling began in the month of February and has continued on into the month of March. Over this time, their total balances have reduced, leading to a decrease in the number of wallets that hold more than 1,000 BTC. As of February, there were around 2,150 wallets holding more than 1,000 BTC. However, in March, this figure has dropped toward 2,040 as the whales shave off their balances to secure some profit during the rally. Impact Of Whale Selling On BTC Price Given the size of these wallets, a decision to sell from them can have a notable impact on the BTC price. This is because they are able to dump a large amount of supply on the market in a short time and if there is not enough demand to soak it up, then it leads to a crash in the price. Related Reading: Shiba Inu Whales Are Accumulating SHIB, Do They Know Something You Don\u2019t? The whale selling could be behind the flash dips that have plagued Bitcoin as it has surged to new all-time highs. One example of this was on Tuesday, March 12, when the price of Bitcoin touched $73,000. What followed was a flash crash that sent the price toward $68,000 before it recovered. So, while the whales dumping their holdings could have an adverse effect on the price, the performance of BTC in response to this flash crash shows that there is enough demand to meet this supply. In the case of Tuesday, the price would recover quickly to reach a new all-time high of $73,600. At this time of this writing, the BTC price is still maintaining its hold on $73,000 with a 7-day increase of 10.49%. BTC bulls reclaim control | Source: BTCUSD on Tradingview.com Featured image from Techeconomy, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":597668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,19064,1119,89185,1122,1144,78790,14781],"class_list":["post-597649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-whales","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-whales"],"acf":[],"yoast_head":"\nBitcoin Whales Are Cashing Out Amid Push To New All-Time High<\/title>\n<meta name=\"description\" content=\"As the Bitcoin price continues on an upward trajectory that has sent it toward new all-time highs, breaking above $73,000 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Are Cashing Out Amid Push To New All-Time High","url":"http:\/\/wncen.com\/news\/bitcoin-whales-cashing-out\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-whales-cashing-out\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ca4b94.jpeg?resize=200%2C170","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ca4b94.jpeg?fit=297%2C170"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","bitcoin whales","btc","btc news","btc price","btcusd","btcusdt","whales"],"dateCreated":"2024-03-13T14:30:38Z","datePublished":"2024-03-13T14:30:38Z","dateModified":"2024-06-11T07:02:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Are Cashing Out Amid Push To New All-Time High\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-whales-cashing-out\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-whales-cashing-out\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin_ca4b94.jpeg?resize=200%2C170\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Bitcoin_ca4b94.jpeg?fit=297%2C170\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin whales\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"whales\"],\"dateCreated\":\"2024-03-13T14:30:38Z\",\"datePublished\":\"2024-03-13T14:30:38Z\",\"dateModified\":\"2024-06-11T07:02:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ca4b94.jpeg?fit=297%2C170","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/597649"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=597649"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/597649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/597668"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=597649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=597649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=597649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}