{"id":566716,"date":"2023-12-23T21:30:13","date_gmt":"2023-12-23T21:30:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=566716"},"modified":"2024-06-11T08:46:04","modified_gmt":"2024-06-11T08:46:04","slug":"bitcoin-whales-sell-50000-btc","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-whales-sell-50000-btc\/","title":{"rendered":"Bitcoin Whales Sell 50,000 BTC Worth $2.2 Billion, Is The Rally Over?"},"content":{"rendered":"

The <\/span>flagship cryptocurrency, Bitcoin<\/span><\/a>, seems to be cooling off following months of experiencing a resurgence on the back of the <\/span>Spot Bitcoin ETF<\/span><\/a> potential approval rumors. This has led to concerns that the rally might be over, a theory that is boosted by the recent action of the <\/span>largest holders of the crypto token<\/span><\/a>.<\/span><\/p>\n

Bitcoin Whales Offload Some BTC Holdings<\/h2>\n

In a <\/span>post<\/span><\/a> on his X (formerly Twitter) platform, <\/span>crypto analyst Ali Martinez<\/span><\/a> highlighted a report from the <\/span>market intelligence platform Santiment<\/span><\/a>, which showed that Bitcoin whales had sold around 50,000 BTC over the past week. This has raised eyebrows as many speculate why these whales are offloading some of their Bitcoin holdings.<\/span><\/p>\n

Related Reading: Former Director Says Ripple Can Burn 40 Billion XRP In Escrow, How Will This Affect Price?<\/a><\/div>\n

Coincidentally, these sales follow a similar trend from institutional investors as CoinShares’ <\/span>latest weekly report<\/span><\/a> noted that there were minor outflows from digital asset funds last week. These funds are said to have seen an outflow totaling $16 million. However, if the asset manager\u2019s report is anything to go by, then there should be no cause for concern.\u00a0<\/span><\/p>\n

CoinShares mentioned that the outflows seen from the digital asset investment funds are more likely to be related to profit-taking rather than a swing in sentiment. As such, one could also assume that this is the sentiment among the whales that made this recent Bitcoin sell-off. This is also very plausible, considering that Santiment <\/span>recently reported<\/span><\/a> that 89% of BTC\u2019s total supply is in profit.\u00a0<\/span><\/p>\n

Meanwhile, BTC is seeing an inflow of investors, as Santiment reported that the amount of non-zero Bitcoin addresses is up to 916.8 million. Many seem to be <\/span>looking to get in on<\/span><\/a> the flagship cryptocurrency as approval of a Spot Bitcoin ETF looms, and the BTC Halving draws near.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price at $43,600 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
BTC To Rise Above $50,000 By End Of January<\/h2>\n
While BTC seems to be cooling off, there is reason to believe that the rally isn\u2019t over, as it could rise above $50,000 by the end of January 2024. <\/span>Crypto financial services firm Matrixport<\/span><\/a> predicts<\/span><\/a> that this will happen on the back of the <\/span>SEC<\/span><\/a> approving the <\/span>pending Spot Bitcoin ETF applications<\/span><\/a>.\u00a0<\/span><\/p>\n
Related Reading: Solana Flips BNB To Become 4th-Largest Crypto, Is Ethereum Next<\/a><\/div>\n
Matrixport noted that they drew parallels to historical instances while making this price prediction. One of these instances is the CME Group\u2019s Bitcoin futures launch in 2017. Bitcoin is said to have risen by 196% in a six-to-seven-week window dating to when the launch happened. They expect something similar to happen again.\u00a0<\/span><\/p>\n
The firm also expects that Bitcoin will still break out before the year ends. This prediction is also based on historical patterns, as they noted that btc historically sees a price increase between Christmas and the New Year. Matrixport had <\/span>previously predicted<\/span><\/a> that Bitcoin would hit $45,000 between November this year and April 2024.\u00a0<\/span><\/p>\n
At the time of writing, Bitcoin is trading at around $43,600, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n
Featured image from CNET, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The flagship cryptocurrency, Bitcoin, seems to be cooling off following months of experiencing a resurgence on the back of the Spot Bitcoin ETF potential approval rumors. This has led to concerns that the rally might be over, a theory that is boosted by the recent action of the largest holders of the crypto token. Bitcoin Whales Offload Some BTC Holdings In a post on his X (formerly Twitter) platform, crypto analyst Ali Martinez highlighted a report from the market intelligence platform Santiment, which showed that Bitcoin whales had sold around 50,000 BTC over the past week. This has raised eyebrows as many speculate why these whales are offloading some of their Bitcoin holdings. Related Reading: Former Director Says Ripple Can Burn 40 Billion XRP In Escrow, How Will This Affect Price? Coincidentally, these sales follow a similar trend from institutional investors as CoinShares’ latest weekly report noted that there were minor outflows from digital asset funds last week. These funds are said to have seen an outflow totaling $16 million. However, if the asset manager\u2019s report is anything to go by, then there should be no cause for concern.\u00a0 CoinShares mentioned that the outflows seen from the digital asset investment funds are more likely to be related to profit-taking rather than a swing in sentiment. As such, one could also assume that this is the sentiment among the whales that made this recent Bitcoin sell-off. This is also very plausible, considering that Santiment recently reported that 89% of BTC\u2019s total supply is in profit.\u00a0 Meanwhile, BTC is seeing an inflow of investors, as Santiment reported that the amount of non-zero Bitcoin addresses is up to 916.8 million. Many seem to be looking to get in on the flagship cryptocurrency as approval of a Spot Bitcoin ETF looms, and the BTC Halving draws near.\u00a0 BTC price at $43,600 | Source: BTCUSD on Tradingview.com BTC To Rise Above $50,000 By End Of January While BTC seems to be cooling off, there is reason to believe that the rally isn\u2019t over, as it could rise above $50,000 by the end of January 2024. Crypto financial services firm Matrixport predicts that this will happen on the back of the SEC approving the pending Spot Bitcoin ETF applications.\u00a0 Related Reading: Solana Flips BNB To Become 4th-Largest Crypto, Is Ethereum Next Matrixport noted that they drew parallels to historical instances while making this price prediction. One of these instances is the CME Group\u2019s Bitcoin futures launch in 2017. Bitcoin is said to have risen by 196% in a six-to-seven-week window dating to when the launch happened. They expect something similar to happen again.\u00a0 The firm also expects that Bitcoin will still break out before the year ends. This prediction is also based on historical patterns, as they noted that btc historically sees a price increase between Christmas and the New Year. Matrixport had previously predicted that Bitcoin would hit $45,000 between November this year and April 2024.\u00a0 At the time of writing, Bitcoin is trading at around $43,600, according to data from CoinMarketCap.\u00a0 Featured image from CNET, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":566729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,19064,1119,89185,1122,1144,78790,89615,14781],"class_list":["post-566716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-whales","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-whale-news","tag-whales"],"acf":[],"yoast_head":"\nBitcoin Whales Sell 50,000 BTC Worth $2.2 Billion, Is The 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Whales Sell 50,000 BTC Worth $2.2 Billion, Is The Rally Over?","url":"http:\/\/ktsl888.com\/news\/bitcoin-whales-sell-50000-btc\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-whales-sell-50000-btc\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-Small-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-Small-2.jpeg?fit=320%2C213"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","bitcoin whales","btc","btc news","btc price","btcusd","btcusdt","whale news","whales"],"dateCreated":"2023-12-23T21:30:13Z","datePublished":"2023-12-23T21:30:13Z","dateModified":"2024-06-11T08:46:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Whales Sell 50,000 BTC Worth $2.2 Billion, Is The Rally Over?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-whales-sell-50000-btc\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-whales-sell-50000-btc\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Bitcoin-Small-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Bitcoin-Small-2.jpeg?fit=320%2C213\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"bitcoin whales\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"whale news\",\"whales\"],\"dateCreated\":\"2023-12-23T21:30:13Z\",\"datePublished\":\"2023-12-23T21:30:13Z\",\"dateModified\":\"2024-06-11T08:46:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-Small-2.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/566716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=566716"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/566716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/566729"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=566716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=566716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=566716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}