{"id":643732,"date":"2024-09-22T10:00:06","date_gmt":"2024-09-22T10:00:06","guid":{"rendered":"https:\/\/wncen.com\/?p=643732"},"modified":"2024-09-22T07:22:39","modified_gmt":"2024-09-22T07:22:39","slug":"bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold\/","title":{"rendered":"Bitcoin Whales Take Profit After Latest Price Jump \u2014 Here\u2019s How Much They Sold"},"content":{"rendered":"

The latest on-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally. The question here is \u2014 how much did they sell and how much impact could it have on the Bitcoin price trajectory<\/a>?<\/span><\/p>\n

Bitcoin Whales Dump 30,000 BTC In Four Days \u2014 Impact On Price?<\/b><\/h2>\n

In a new post on the X platform, prominent crypto pundit Ali Martinez revealed<\/a> that Bitcoin whales have been increasingly active in the market in the days following BTC’s return to above $63,000. This on-chain observation is based on the drop in the total holdings of whales with balances between 1,000 and 10,000 BTC.<\/span><\/p>\n

Related Reading: Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction<\/a><\/div>\n

According to data from Santiment, this cohort of Bitcoin whales has offloaded more than 30,000 BTC (worth around $1.86 billion) in the past 96 hours. Interestingly, this level of whale activity came after the premier cryptocurrency witnessed a price upswing triggered by the interest rate cut by the US Federal Reserve.<\/span><\/p>\n

\"Bitcoin\"
Source: Ali_charts\/X<\/a><\/figcaption><\/figure>\n

Whales<\/a> \u2014 which typically refer to individuals or entities holding significant amounts of a particular cryptocurrency \u2014 are perceived to hold considerable influence over the market due to the size of their holdings. Hence, their buying or selling activities can precipitate abrupt price swings in the short term.<\/span><\/p>\n

The Bitcoin market has been under a considerable amount of bearish pressure so far in September, falling to as low as $53,000 at some point. The Fed rate cut seemed like the perfect catalyst to turn things around and spark a fresh bullish momentum<\/a>. However, profit-taking observed amongst the large investors could stall this recovery.<\/span><\/p>\n

When whales sell off their assets, it often causes other investors to tread the market with caution, as they wonder what the large holders know. This can lead to heightened selling pressure or a momentary price pullback.\u00a0<\/span><\/p>\n

BTC Price At A Glance\u00a0<\/strong><\/h2>\n

Nevertheless, it is worth mentioning that the Bitcoin price<\/a> has made significant movement in the past few days. As of this writing, the flagship cryptocurrency is valued at $63,131, reflecting a mere 0.1% decline in the past day.<\/span><\/p>\n

According to data from CoinGecko, the value of BTC has increased by more than 5% in the past week. The market leader seems to be performing even better on broader timeframes.<\/span><\/p>\n

Related Reading: Over 150,000 ETH Moved To Exchanges In The Last 24 Hours: What\u2019s Next For Ethereum?<\/a><\/div>\n

For instance, the Bitcoin price performance this month has been nothing short of surprising, as September is historically a bearish period for the premier cryptocurrency. BTC is up by more than 6.8% this month, its highest-ever average return in September.<\/span><\/p>\n

\"Bitcoin\"
The price of Bitcoin thickening around $63,100 on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

The latest on-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally. The question here is \u2014 how much did they sell and how much impact could it have on the Bitcoin price trajectory? Bitcoin Whales Dump 30,000 BTC In Four Days \u2014 Impact On Price? In a new post on the X platform, prominent crypto pundit Ali Martinez revealed that Bitcoin whales have been increasingly active in the market in the days following BTC’s return to above $63,000. This on-chain observation is based on the drop in the total holdings of whales with balances between 1,000 and 10,000 BTC. Related Reading: Crypto Whales Buy $228 Million In XRP Following $5 Price Prediction According to data from Santiment, this cohort of Bitcoin whales has offloaded more than 30,000 BTC (worth around $1.86 billion) in the past 96 hours. Interestingly, this level of whale activity came after the premier cryptocurrency witnessed a price upswing triggered by the interest rate cut by the US Federal Reserve. Whales \u2014 which typically refer to individuals or entities holding significant amounts of a particular cryptocurrency \u2014 are perceived to hold considerable influence over the market due to the size of their holdings. Hence, their buying or selling activities can precipitate abrupt price swings in the short term. The Bitcoin market has been under a considerable amount of bearish pressure so far in September, falling to as low as $53,000 at some point. The Fed rate cut seemed like the perfect catalyst to turn things around and spark a fresh bullish momentum. However, profit-taking observed amongst the large investors could stall this recovery. When whales sell off their assets, it often causes other investors to tread the market with caution, as they wonder what the large holders know. This can lead to heightened selling pressure or a momentary price pullback.\u00a0 BTC Price At A Glance\u00a0 Nevertheless, it is worth mentioning that the Bitcoin price has made significant movement in the past few days. As of this writing, the flagship cryptocurrency is valued at $63,131, reflecting a mere 0.1% decline in the past day. According to data from CoinGecko, the value of BTC has increased by more than 5% in the past week. The market leader seems to be performing even better on broader timeframes. Related Reading: Over 150,000 ETH Moved To Exchanges In The Last 24 Hours: What\u2019s Next For Ethereum? For instance, the Bitcoin price performance this month has been nothing short of surprising, as September is historically a bearish period for the premier cryptocurrency. BTC is up by more than 6.8% this month, its highest-ever average return in September. Featured image created with Dall.E, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":643734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[87818,428,679,19064,78790,57231],"class_list":["post-643732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-ali-martinez","tag-bitcoin","tag-bitcoin-price","tag-bitcoin-whales","tag-btcusdt","tag-santiment"],"acf":[],"yoast_head":"\nBitcoin Whales Take Profit After Latest Price Jump \u2014 Here\u2019s How Much They Sold<\/title>\n<meta name=\"description\" content=\"On-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. \u201cLooking\u201d is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi\u2019s favorite part - in fact, far from it. Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. \u201cThis emphasizes the intricacies of blockchain technology and the cryptocurrency market,\u201d he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/wncen.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Take Profit After Latest Price Jump \u2014 Here\u2019s How Much They Sold","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/2024-09-22-01.41.07.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/2024-09-22-01.41.07.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Opeyemi Sule"}],"creator":["Opeyemi Sule"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ali martinez","bitcoin","bitcoin price","bitcoin whales","btcusdt","santiment"],"dateCreated":"2024-09-22T10:00:06Z","datePublished":"2024-09-22T10:00:06Z","dateModified":"2024-09-22T10:00:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Take Profit After Latest Price Jump \\u2014 Here\\u2019s How Much They Sold\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-whales-take-profit-after-latest-price-jump-heres-how-much-they-sold\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/2024-09-22-01.41.07.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/2024-09-22-01.41.07.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Opeyemi Sule\"}],\"creator\":[\"Opeyemi Sule\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ali martinez\",\"bitcoin\",\"bitcoin price\",\"bitcoin whales\",\"btcusdt\",\"santiment\"],\"dateCreated\":\"2024-09-22T10:00:06Z\",\"datePublished\":\"2024-09-22T10:00:06Z\",\"dateModified\":\"2024-09-22T10:00:06Z\"}<\/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\/09\/2024-09-22-01.41.07.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/643732"}],"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\/590"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=643732"}],"version-history":[{"count":4,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/643732\/revisions"}],"predecessor-version":[{"id":643753,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/643732\/revisions\/643753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/643734"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=643732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=643732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=643732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}