Bitcoin Whale Withdraws $89M BTC, Despite Bloody Market

[cheezcarls]

Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.

The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’

Source link here

Look guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale:

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.

Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.

If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

[1715503624]

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[1715503624]

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[stompix]

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.
Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.
If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

Scenario 3  Coincheck moved some bitcoins from one cold wallet to another.

But that doesn't match the whole bloodbath scenario, whales are manipulating the price, we must find a culprit for the dump and hang him, right?
If there is a huge transfer in the blockchain, there must be some illuminate doing some funny business.

Seriously, stop following whale alerts. 99% of them are useless stuff!

[Getmon]

I seriously doubt this move has something to do with what is happening to the prices right now. The move is not something that is very special and should be interpreted as a curious case. There are always movements of huge amounts of Bitcoin in normal days, during the times when there are no dumps and no pumps either, but it should not really be treated as a whale trying to manipulate the market. What do you expect from a hundred billion market? That the movements of BTC will be limited to hundreds and thousands only?

[alyssa85]

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.
Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.
If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

Scenario 3  Coincheck moved some bitcoins from one cold wallet to another.

But that doesn't match the whole bloodbath scenario, whales are manipulating the price, we must find a culprit for the dump and hang him, right?
If there is a huge transfer in the blockchain, there must be some illuminate doing some funny business.

Seriously, stop following whale alerts. 99% of them are useless stuff!

Spot on.

Remember the fuss last week about "spam" transactions and it turned out an exchange was simply trying to consolidate all their dust?

Because bitcoin is pseudonymous, we simply don't know what is actually happening when coins move from one wallet to another.

[keyscore44]

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.
Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.
If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

Scenario 3  Coincheck moved some bitcoins from one cold wallet to another.

But that doesn't match the whole bloodbath scenario, whales are manipulating the price, we must find a culprit for the dump and hang him, right?
If there is a huge transfer in the blockchain, there must be some illuminate doing some funny business.

Seriously, stop following whale alerts. 99% of them are useless stuff!

Spot on.

Remember the fuss last week about "spam" transactions and it turned out an exchange was simply trying to consolidate all their dust?

Because bitcoin is pseudonymous, we simply don't know what is actually happening when coins move from one wallet to another.

We do not know who moves BTC, but such movements trigger the imagination and thanks to this they can manipulate the price. This is speculation and we are now seeing it very clearly, how after two - three information, on market is coming panic. In my opinion, whales test market sentiment. What happened means that there is still no stabilization, but it could have been worse. If now the price starts to rise, it will be a very good sign.

[akirasendo17]

Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.

The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’

Source link here

Look guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale:

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.

Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.

If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

such move will really pull the price down and make holders panic, any those scenario , people who where hoping to get the profit will panic and sold their bitcoins thats even gonna make the price lower
such result will make the whale happy because he/she will have the chance to bought the price at the lower rate and then start again the same process over and over again, this will also give negative impact
to the community which currently is already lost a lot , i know a lot of people already take big blow when they thought that hitting 13k usd dollar price will trigger to a higher price , and resulted the other way around
i just hope that this will be recovered , or be stable or else this will be a big setback

[sunsilk]

These coin movements are always a huge thing that the media covers. If it's confirmed that it was transferred to an exchange then that amount is considered to be sold but as mentioned.

It could just have been sent to a cold storage and the owner just want to keep it to another wallet. And due to the market fluctuations and plummeting, they're highlighting that it's part of the cause.

[friends1980]

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.
Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.
If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

Scenario 3  Coincheck moved some bitcoins from one cold wallet to another.

But that doesn't match the whole bloodbath scenario, whales are manipulating the price, we must find a culprit for the dump and hang him, right?
If there is a huge transfer in the blockchain, there must be some illuminate doing some funny business.

Seriously, stop following whale alerts. 99% of them are useless stuff!

Hear hear. Who are these whales exactly, and wouldn't there be a teeny weeny chance that people have panicked by the Binance raid news, for instance, or maybe just some others withdrawing fiat money for Black Friday. Who'll tell.

[kissme09]

It could also be a way to flee the market. They do not act according to the crowd and constantly buy before the bad information. It is also possible that they transfer assets from one exchange to another. 12,000 Bitcoins may be the property of a certain exchange, they are changing their wallets to ensure safety.

[Fappanu]

Maybe you're right in your scenario examples, but I think these bitcoin whales will come back when they see a good opportunity to buy bitcoin again. And I think when this happens we will see the price of bitcoin rise again, and then there will be a panic buying that can pump up the bitcoin price again and the market will return to normal.

[chaoscoinz]

Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.

The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’

Source link here

Look guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale:

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.

Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.

If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

I really try not to watch and count other people's money if I can help it, but in this case, since my money is tied into crypto, it is affected by another's money and transactions because they have the biggest stake within the market and the community. That's my only caveat with Bitcoin and Cryptocurrencies, if a whale decides to, they could literally crash the whole damn market just by shifting a few thousand Bitcoins around.

[MURONDI]

in my opinion, big traders are playing bitcoin prices, Big traders are lowering the price of bitcoin so that it makes people panic and participate in selling bitcoin, and when the price becomes very cheap, a large trader will buy it back, so he can get a lot of profit.

[kotwica666]

Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.

The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’

Source link here

Look guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale:

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.

Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.

If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

I am surprised that in general someone kept such amounts of BTC on the exchange. It can also can be a exchange cold wallet. I think Coincheck should dispel the rumors and at least deny or confirm whether they are their funds or not. If this was a private person, then it should be a good sign for us, because it means that whales increase confidence in the market situation.

[The Sceptical Chymist]

I've never heard of Coincheck, but I'm assuming that's an exchange.  It must be a relatively trustworthy one if a whale was willing to use it for such a large purchase.  I had to look it up, and apparently it's a Japanese exchange.  Why am I not surprised that it's probably a Japanese whale responsible for that transfer?  And I'm not saying that in a bad way at all.  To the contrary, there are a lot of very good investors in Japan who have a lot of money to throw around, and more power to them.

I liked this quote from the article:

This withdrawal may be yet another example of how ‘smart money’ plays these moments of market chaos.

Very true.  Smart investors start buying when there's a bloodbath in an otherwise valuable market.  Nothing much has changed in the world of crypto in the past couple of weeks except for prices, and it's a good play to be buying when everyone else is selling.  That's how you make a profit (with a little bit of patience, of course).  Bitcoin might not even be done with its plunge, but I still think $7200 or whatever price this person bought bitcoin at is a good buy.

[dothebeats]

Stop following big movements on the blockchain and create rumors about it as if it’s a single new event. Some are still being held hostage by the thought of some anonymous dude owning up huge amounts of money and moving it through the blockchain when in fact it could just be an exchange moving funds from A to B. With the volatility and craziness surrounding bitcoin for the better part of its existence, everyone should have been used to these events happening, but apparently not everyone is used to it just yet.

[Youghoor]

Despite Bitcoin plummeting in value, it seems that whales haven’t lost their appetite. One major BTC whale just withdrew 12,000 BTC ($89M) to an external wallet.

The market is in chaos today as Bitcoin experienced another double-digit drop. Just a week ago, Bitcoin was trading at $8,700 — it is now trading at around $7,100. For the first time since May 2019, the market capitalization of the entire cryptocurrency market is under $200B. According to the Crypto Greed & Fear Index, the current sentiment is one of ‘Extreme Fear.’

Source link here

Look guys, I know how it feels when we are in a bloody market. Correct me if I’m wrong, but there will be two scenarios about this Bitcoin whale:

Scenario 1: He bought it at a higher price and withdrew it while Bitcoin is on a bloodbath.

Scenario 2: He bought it at a lower price years ago, and withdrew it without even have to worry about the bloodbath.

If there would be another scenario, what would it be? Can you share it here guys? Thanks in advance!

What you should always understand is that not everybody in the crypto space sees bitcoin as an investment entity but rather a digital currency for payment of goods and services. And also, I don't really think this person purchase the bitcoins at a high price compared to the price now. In January this year, Bitcoin was worth around $3k. All those who purchased bitcoin in January can sell their Bitcoin now and still make profits rather than lose. They can make about 50% profit out of their initial investment capital...

[riverdip]

meanwhile i am getting scammed and loosing my btc !

[n0ne]

As the market is experiencing blood bath, whales will try to make the market to crash to the maximum possible. What's been done is just a way of manipulation for large volume investment. To the expectation there is no big crash based on the huge volume of funds getting moved between cold wallets. If it has got affected, now we could've reached $6500.

[boltz]

I doubt the whale sold that Bitcoin at this price even if he had the Bitcoin since 500$ price as he would have had so many other chances to sell it so most probably an exchange simply moved the deposit from address A to address B for security reasons.

If the scenario from above is not the one ...then we're going to see 4k$ Bitcoin very soon as I doubt a whale could sell that amount of Bitcoin just because he needed too which is probably not going to happen. Also there are massive blockchain transaction every week so don't give them too much attention, people moving Bitcoin every time and so do exchanges.

[kotwica666]

As the market is experiencing blood bath, whales will try to make the market to crash to the maximum possible. What's been done is just a way of manipulation for large volume investment. To the expectation there is no big crash based on the huge volume of funds getting moved between cold wallets. If it has got affected, now we could've reached $6500.

If you checked this transaction, you would see that he did not sell anything. On the contrary, it has a total of over 17k BTC.

https://www.blockchain.com/btc/address/3LCGsSmfr24demGvriN4e3ft8wEcDuHFqh

I'm not a Blockchain specialist, but for me this address looks like the wallet of some large Bitcoin mine.

Anyway, this whale sells almost nothing (if anything) but accumulates funds. For me it's a positive signal.