The shock began when a whale that had sat on its holdings for over five years shifted 24,000 BTC — valued around $2.7 billion — onto a trading venue. Within hours, the market absorbed heavy selling, leaving Bitcoin down nearly 3% on the day. Even after unloading, the wallet still holds more than 152,000 BTC, a stash worth over $17 billion.

Market commentator Willy Woo noted that many early investors acquired coins for under $10. At today’s levels, he explained, each coin sold demands over $110,000 in fresh capital to balance the books — a scale that can quickly drag momentum lower when large holders distribute.

Leverage Wiped Out

The timing of the sale collided with fragile positioning in derivatives markets. Binance recorded over $70 million in long positions liquidated as prices slid below $112,000. Analysts tracking the data said liquidity pockets vanished almost instantly, triggering a cascade of forced selling known as a “long squeeze.”

By Sunday night, open interest had been slashed, while net taker volume on Binance had shrunk to about $1 billion — signs that overleveraged traders had been flushed out.

Opportunity or Warning Sign?

While the plunge rattled sentiment, some analysts argue it may create the perfect reset. Michaël van de Poppe of MN Fund described the $111K area as a “prime accumulation zone,” suggesting that the removal of excess leverage could allow Bitcoin to stabilize and climb again.

His outlook sees potential upside if BTC can break back above resistance near $114,800 and $116,800, opening the path toward $120,000 and perhaps a retest of the $123,000 liquidity pocket. On the other hand, failure to defend $111K could expose a slide toward the psychological $100K mark.

A Market Ruled by Whales

The episode underscores how Bitcoin’s trajectory remains heavily influenced by early whales, whose rare but massive moves can destabilize markets in ways few other factors can. For some, the selloff is a reminder of lingering supply risks; for others, it is the healthy purge of leverage that clears the way for the next leg up.

Either way, Sunday’s events show that even in a market dominated by institutions and derivatives, the actions of a single long-term holder can still send shockwaves through the entire crypto landscape.

The post Whale Unloads Bitcoin Worth $2.7 Billion, Wiping Out Traders and Shaking the Market appeared first on Coindoo.

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Filed under: Bitcoin - @ August 26, 2025 12:02 am