Main navigation

Bitcoin Whale Goes on Massive Selling Spree

Mon, 13/11/2023 - 7:31
 Bitcoin Whale Goes on Massive Selling Spree
Cover image via
Read U.TODAY on
Google News

A whale has reportedly sold a large amount of Bitcoin. The data from Lookonchain reveals that this anonymous investor bridged Bitcoin (BTC) to Ethereum, converting it to Wrapped Bitcoin (WBTC). 

The whale has sold a total of 411 WBTC, amounting to approximately $15.2 million, at an average price of $37,023 per Bitcoin. Currently, the whale's wallet still holds 155 WBTC, valued at around $5.74 million.

Bulls and bears

The cryptocurrency market, often characterized by its volatility, is witnessing a tug-of-war between bulls and bears. 

According to IntoTheBlock data, the market has seen 111 bullish addresses, which are those buying more than 1% of the trading volume in the last 24 hours. On the other hand, there are 114 bearish addresses, marked by their selling of over 1% of the daily traded volume. 

The market also observed a notable number of large transactions, defined as those above $100,000. The last 24 hours saw approximately 12,430 large transactions, with a 7-day high reaching 22,570 transactions on Nov. 9. 

Cardano Founder Eyes Partnership with Kraken for New Layer-2 Blockchain Project

The total volume of these large transactions in Bitcoin amounted to 589,590 BTC in the last day, with a 7-day high at 1.06 million BTC. When converted to USD, the total volume of these transactions in the last 24 hours was around $21.81 billion, with a 7-day peak of $39.02 billion.

Bitcoin price in limbo

The recent activities in the market have had an impact on Bitcoin's price. As of now, Bitcoin is trading at $37,029.96, marking a slight 0.3% increase, according to CoinGecko data

The cryptocurrency's market cap stands at approximately $723.6 billion, with a 24-hour trading volume of around $12 billion. 

The impending decision on Bitcoin ETFs by the SEC is poised to be a major catalyst for the top cryptocurrency. With a critical deadline approaching on November 17, the financial community anticipates that the SEC may issue approvals for multiple Bitcoin ETFs simultaneously.


Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles