A Bitcoin whale has reported a $55.6 million loss after selling 1,102 BTC, raising concerns about market volatility and price pressure.
A significant Bitcoin investor has incurred a loss of $55.6 million following the sale of 1,102 BTC, according to analysis from Lookonchain.
A whale deposited 1,102 BTC, valued at $74.21 million, to Binance, having acquired them eight months ago at an average price of $117,770. This resulted in a loss of 43%. — Lookonchain (@lookonchain)
The current market price of Bitcoin is approximately $68,100, indicating a significant drop of over 40% since the investor's purchase. In a separate transaction on March 27, another whale transferred 500 BTC, equivalent to $33 million, to exchanges. This same wallet had previously moved 5,000 BTC to trading platforms a week earlier. This investor originally bought the coins in 2013 for $332 each and has been liquidating holdings since November 2024, having sold 4,000 BTC to date.
Currently, this investor retains around 1,000 BTC, valued at $66 million at present prices.
Experts highlight that large Bitcoin holders are becoming cautious, raising concerns about potential downward pressure on prices. CryptoQuant analyst Sunny Mom noted that after a phase of aggressive accumulation earlier this year, whales are now reevaluating their strategies.
“The accumulation momentum of large on-chain addresses has been exhausted, and some are even transitioning to minor distribution,” Mom stated.
The Exchange Whale Ratio has been on the rise since January, with the 30-day moving average reaching 0.6. Historically, such levels indicate increased volatility and selling pressure. Mom emphasized a market divergence where on-chain purchases have slowed down while inflows to exchanges have increased. While Bitcoin's price hovers around $67,000, the market appears to be entering a redistribution phase.
“The stablecoin ratio remains low—new capital is not entering the market. Without inflows, any attempts by whales to secure profits from previous accumulation are reliant on existing liquidity, making the price vulnerable to selling pressure,” she concluded.
In March, analysts from Santiment reported that large investors had begun accumulating again, increasing their holdings by 61,568 BTC over the past month.
