Ember monitoring has recently averaged $58,604 Bitcoin (BTC) $55,763.36 reported that a cryptocurrency whale who collected coins made a transaction in which he lost approximately $3 million. The whale’s loss caught the attention of many investors in highly volatile market conditions where the price is generally moving downward.
Whale Takes $2.97 Million Write-Off to Reduce Losses
One Bitcoin whale In the recent period, he had to sell 1,000 BTCs that he bought for an average of $58,604 to reduce his losses. This move of the whale resulted in a loss of $2.97 million. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Ember monitoringAccording to , the crypto whale withdrew 2,322 BTC worth around $136 million from Binance between August 29 and September 3. The whale paid an average of $58,604 per coin for the BTC, making him a significant Bitcoin investor. However, just 15 minutes before his last purchase, the whale transferred 1,000 BTC worth $55.63 million back to Binance and sold them off.
The whale’s decision to sell 1,000 BTC is the biggest crypto moneyThe transfer of BTCs back to Binance and the subsequent sale seem to be a move to stop further losses in the market, which has been brutal towards investors trying to make a profit by taking high risks recently.
Price Drop Forces Investors to Take Action
Cryptocurrency whale makes big losses BTC The sale reflects the selling pressure faced by large investors as well as small investors trying to stay afloat in a market environment where prices are trending down and volatility is increasing. Despite their large assets, whales are not immune to market declines, and in the cryptocurrency market, as in the general financial world, sometimes assets must be sold at a loss to manage risk.
With the latest data, Bitcoin is trading at $55,717, down 2.26 percent in the last 24 hours. This latest drop in price has brought the cryptocurrency king’s loss in the last 7 days to over 6 percent.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
