BTC Whale Dumps $18M – 300 BTC Gone in 30 Minutes!

Key Points:

• The whale address 35TZj…iX2cR recently sold 300 BTC worth $18.25 million, indicating a major strategic move.
• After withdrawing 855 BTC and selling 297 BTC on August 5 during a market drop, the whale’s total losses now reach $4.08 million.
• Despite selling, the BTC whale still holds 259 BTC with a floating loss of around $805,000 due to current market conditions.

According to monitoring by @ai_9684xtpa, the BTC whale address 35TZj.iX2cR opened a huge position in Bitcoin back in July for an average cost of about $63,878 per BTC.

BTC Whale Reduces Position by $18.25M in Latest Move

This BTC whale is suspected of selling 300 BTC for a staggering sum of $18.25 million.

This is not the first time the whale has been in the headlines. From July 10 to July 23, the whale withdrew 855 BTC from an exchange as one probable strategy for protecting assets from market volatility. However, it suddenly turned sour on August 5, as markets worsened. Possibly in panic, the whale sold off 297 BTC to drive away bearish market sentiments.

Read more: Crypto Whales Keeping An Eye On These 3 Coins

Previous Withdrawals and Panic Selling

Today’s suspected sale adds to the whale’s woes, bringing the total loss to a whopping $4.08 million. Despite all this, the whale still holds 259 BTC, although, with the current market movement, this position looks to be floating in a loss of approximately $805,000.

This move of a high-ranked BTC whale increases the element of unpredictability and high stakes involved in cryptocurrency markets, hence acting as a strict reminder to traders and investors to be on their toes while considering risk management strategies in times of extreme market fluctuation.

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