Whale Sells 1,200 BTC At Loss, Analyst Warns Against Premature Bullish Hopes
The post Whale Sells 1,200 BTC At Loss, Analyst Warns Against Premature Bullish Hopes appeared on BitcoinEthereumNews.com.
A primary Bitcoin whale has sold 1,200 BTC at an average price of $82,171, resulting in a realized loss of $31.8 million. The BTC was initially purchased at $98,896 around four months ago. This selling pattern has raised concerns among market participants, especially as the whale offloads assets despite early signs of demand recovery. The most recent transaction shows another 400 BTC unstacked and sent to Binance hours ago. Whale Continues Strategic BTC Offloading Despite Heavy Losses During the past month, a substantial Bitcoin wallet performed multiple large BTC transactions directed toward the Binance exchange. Blockchain analytics reveal that wallet transactions exceeded $148 million by transferring at least 1,800 Bitcoin (BTC) to Binance. Each transfer originates from parcels between 200 and 400 BTC, stemming from a calculated selling strategy. A whale returned to the market four hours ago by unstacking Bitcoin to execute another sale of 400 BTC worth $33.83 million. This transaction occurred at a price lower than acquisition costs and added to a recurring trend of deteriorating bullish market sentiment. According to historical data, this wallet had staked 400 BTC to Babylon four months ago when Bitcoin price was near its local top, around $98,896. Source: X The whale has sold 1,200 BTC at prices averaging $82,171, locking in losses of $31.8 million. This selling pressure continues to weigh on market sentiment, even as some technical indicators suggest a possible recovery. Market observers suggest this behavior may be due to planned capital rotation or a lack of confidence in short-term price direction. Apparent Demand Shows Early Signs of Recovery for Bitcoin Price Bitcoin’s Apparent Demand metric, which tracks the 30-day sum of BTC transfers, has started to rise after weeks in negative territory. Demand had been strong from November 2024 to January 2025, supporting a Bitcoin price rally.…
Filed under: News - @ April 15, 2025 3:26 pm