{"id":479171,"date":"2021-12-17T19:00:54","date_gmt":"2021-12-17T19:00:54","guid":{"rendered":"https:\/\/wncen.com\/?p=479171"},"modified":"2024-06-11T14:09:56","modified_gmt":"2024-06-11T14:09:56","slug":"bitcoin-drops-46k-44-2-million-btc-dumped-1-min","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-drops-46k-44-2-million-btc-dumped-1-min\/","title":{"rendered":"Bitcoin Drops To $46k As $44.2 Million In BTC Gets Dumped Within 1 Min"},"content":{"rendered":"<p>On-chain data shows that $44.2 million in Bitcoin was dumped in just one minute, following which the price of BTC declined to $46k.<\/p>\n<h2>Exchanges Observe Huge Bitcoin Inflow Of 1923 BTC<\/h2>\n<p>As pointed out by an analyst in a CryptoQuant <a href=\"https:\/\/cryptoquant.com\/quicktake\/61bc4c29f39ed41495c26897-442-Million-in-Bitcoin-Dumped-in-1-minute\" rel=\"nofollow\">post<\/a>, on-chain data shows that around1923 BTC entered exchange wallets today.<\/p>\n<p>The relevant indicator here is the &#8220;<a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-etf-inflows-slow-down\/\">inflow<\/a>&#8221; metric, which measures the total amount of Bitcoin being transferred to exchanges.<\/p>\n<p>Since investors usually transfer their coins to exchanges for withdrawing to fiat or for purchasing altcoins with them, big inflow values can be bearish for the price of the crypto.<\/p>\n<p>On the other hand, low inflow values can be bullish for Bitcoin as they may mean there isn&#8217;t much selling pressure in the market at the moment.<\/p>\n<p>Now, here is a chart that shows the trend in BTC inflows over the past day:<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/144494\/quicktake\/CYIVVb_0e71d8dddf0874149438b06ba7e76e01cab8c59fd66cbf7b8bb1d82757167011.png?resize=1280%2C581&#038;ssl=1\" alt=\"Bitcoin Inflow\" width=\"1280\" height=\"581\"><\/p>\n<pre style=\"text-align: center\">Looks like the indicator showed a huge spike today | Source: <a href=\"https:\/\/cryptoquant.com\/quicktake\/61bc4c29f39ed41495c26897-442-Million-in-Bitcoin-Dumped-in-1-minute\" rel=\"nofollow\">CryptoQuant<\/a><\/pre>\n<p>As you can see in the above graph, the inflow indicator showed a massive spike today that measured to be around 1923 BTC.<\/p>\n<p>This means that some holders deposited to exchange wallets what was around $91.7 million at the time of the transaction. Not long after, the price of BTC dropped down to $46.7k.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/data-shows-bitcoin-short-term-holders-realizing-significant-losses\/\">Data Shows Bitcoin Short-Term Holders Realizing Significant Losses<\/a><\/strong><\/em><\/p>\n<p>A look at the &#8220;taker sell volume&#8221; chart reveals some additional info about this decline. This metric is another on-chain indicator that shows the total amount of sell orders on perpetual swaps.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone aligncenter\" src=\"https:\/\/i0.wp.com\/img.cryptoquant.com\/144494\/quicktake\/g6JsG_0e71d8dddf0874149438b06ba7e76e01cab8c59fd66cbf7b8bb1d82757167011.png?resize=1280%2C583&#038;ssl=1\" alt=\"Bitcoin Taker Sell Volume\" width=\"1280\" height=\"583\"><\/p>\n<pre style=\"text-align: center\">The indicator's value seems to have surged today | Source: <a href=\"https:\/\/cryptoquant.com\/quicktake\/61bc4c29f39ed41495c26897-442-Million-in-Bitcoin-Dumped-in-1-minute\" rel=\"nofollow\">CryptoQuant<\/a><\/pre>\n<p>On examining this graph, it becomes apparent that around $44.2 million in sell orders were placed on perpetual swap exchanges about 50 minutes after the aforementioned inflows. All this Bitcoin volume was dumped within the matter of a minute.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-heads-for-short-squeeze-why-eth-could-outperform-in-this-scenario\/\">Bitcoin Heads For Short Squeeze? Why ETH Could Outperform In This Scenario<\/a><\/strong><\/em><\/p>\n<p>Because of the short timeframe, it&#8217;s looking likely it was just a single investor selling these coins. It&#8217;s also possible that rather than a single holder, it could be a group pulling off a coordinated <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-inflows-trend-up-as-whales-continue-dumping\/\">dump<\/a>.<\/p>\n<p>The analyst in the post believes this might cause further fear and inflows in the Bitcoin market, and so investors should remain vigilant.<\/p>\n<h2>BTC Price<\/h2>\n<p>At the time of writing, <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-fails-again-49-5k\/\">Bitcoin&#8217;s price<\/a> floats around $47k, down 4% in the last seven days. Over the past month, the crypto has lost 21% in value.<\/p>\n<p>Here is a chart that shows the trend in the price of BTC over the last five days:<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-479188 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/chart-17.png?resize=460%2C242\" alt=\"Bitcoin Price Chart\" width=\"460\" height=\"242\"><\/p>\n<pre style=\"text-align: center\">BTC's price dropped down to $46.7k earlier in the day, but has since recovered back above $47k | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">BTCUSD on TradingView<\/a><\/pre>\n<p>Bitcoin has been in consolidation within the $45k to $50k range for a while now, and the trend doesn&#8217;t look to be breaking anytime soon.<\/p>\n<pre>Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>On-chain data shows that $44.2 million in Bitcoin was dumped in just one minute, following which the price of BTC declined to $46k. Exchanges Observe Huge Bitcoin Inflow Of 1923 BTC As pointed out by an analyst in a CryptoQuant post, on-chain data shows that around1923 BTC entered exchange wallets today. The relevant indicator here is the &#8220;inflow&#8221; metric, which measures the total amount of Bitcoin being transferred to exchanges. Since investors usually transfer their coins to exchanges for withdrawing to fiat or for purchasing altcoins with them, big inflow values can be bearish for the price of the crypto. On the other hand, low inflow values can be bullish for Bitcoin as they may mean there isn&#8217;t much selling pressure in the market at the moment. Now, here is a chart that shows the trend in BTC inflows over the past day: Looks like the indicator showed a huge spike today | Source: CryptoQuant As you can see in the above graph, the inflow indicator showed a massive spike today that measured to be around 1923 BTC. This means that some holders deposited to exchange wallets what was around $91.7 million at the time of the transaction. Not long after, the price of BTC dropped down to $46.7k. Related Reading |\u00a0Data Shows Bitcoin Short-Term Holders Realizing Significant Losses A look at the &#8220;taker sell volume&#8221; chart reveals some additional info about this decline. This metric is another on-chain indicator that shows the total amount of sell orders on perpetual swaps. The indicator&#8217;s value seems to have surged today | Source: CryptoQuant On examining this graph, it becomes apparent that around $44.2 million in sell orders were placed on perpetual swap exchanges about 50 minutes after the aforementioned inflows. All this Bitcoin volume was dumped within the matter of a minute. Related Reading |\u00a0Bitcoin Heads For Short Squeeze? Why ETH Could Outperform In This Scenario Because of the short timeframe, it&#8217;s looking likely it was just a single investor selling these coins. It&#8217;s also possible that rather than a single holder, it could be a group pulling off a coordinated dump. The analyst in the post believes this might cause further fear and inflows in the Bitcoin market, and so investors should remain vigilant. BTC Price At the time of writing, Bitcoin&#8217;s price floats around $47k, down 4% in the last seven days. Over the past month, the crypto has lost 21% in value. Here is a chart that shows the trend in the price of BTC over the last five days: BTC&#8217;s price dropped down to $46.7k earlier in the day, but has since recovered back above $47k | Source: BTCUSD on TradingView Bitcoin has been in consolidation within the $45k to $50k range for a while now, and the trend doesn&#8217;t look to be breaking anytime soon. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":479189,"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":[428,1119,1144],"class_list":["post-479171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Drops To $46k As $44.2 Million In BTC Gets Dumped Within 1 Min<\/title>\n<meta name=\"description\" content=\"On-chain data shows that $44.2 million in Bitcoin was dumped in just one minute, following which the price of BTC declined to $46k. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Drops To $46k As $44.2 Million In BTC Gets Dumped Within 1 Min","url":"http:\/\/wncen.com\/news\/bitcoin-drops-46k-44-2-million-btc-dumped-1-min\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-drops-46k-44-2-million-btc-dumped-1-min\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/hans-jurgen-mager-KgRKlQXmHR0-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/hans-jurgen-mager-KgRKlQXmHR0-unsplash-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-12-17T19:00:54Z","datePublished":"2021-12-17T19:00:54Z","dateModified":"2024-06-11T14:09:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Drops To $46k As $44.2 Million In BTC Gets Dumped Within 1 Min\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-drops-46k-44-2-million-btc-dumped-1-min\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-drops-46k-44-2-million-btc-dumped-1-min\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/hans-jurgen-mager-KgRKlQXmHR0-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/hans-jurgen-mager-KgRKlQXmHR0-unsplash-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-12-17T19:00:54Z\",\"datePublished\":\"2021-12-17T19:00:54Z\",\"dateModified\":\"2024-06-11T14:09:56Z\"}<\/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\/2021\/12\/hans-jurgen-mager-KgRKlQXmHR0-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/479171"}],"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\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=479171"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/479171\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/479189"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=479171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=479171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=479171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}