Bitcoin

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-hits-record-high-triggering-whales-to-cash-out" rel="noopener noreferrer nofollow">Bitcoin Hits Record High, Triggering Whales to Cash Out</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-climbs-over-46000-with-record-etf-inflows" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value soared to an unprecedented peak of $73,650, underscoring a sustained upward trajectory in the <a href="https://en.bitcoinhaber.net/crypto-network-layerzero-announces-airdrop-event-for-june-next-year" rel="noopener noreferrer nofollow">cryptocurrency</a> market. This milestone signifies substantial gains for the majority of Bitcoin investors. Notably, influential Bitcoin holders, colloquially known as ‘whales’—those possessing a minimum of 1,000 Bitcoins—are seizing the moment to capitalize on their investments by selling off their holdings.</p>
<h2 id="whale-movement-alert-portfolio-adjustments-underway">Whale Movement Alert: Portfolio Adjustments Underway</h2>
<p style="text-align: justify">Crypto analyst Ali Martinez has revealed a chart demonstrating the commencement of asset liquidation by these major Bitcoin players. With each Bitcoin whale holding assets exceeding $73 million, the ramifications of their market moves are significant. The chart exhibited a downturn in the total Bitcoin volume within these heavyweight wallets, hinting at a shift towards selling.</p>
<p style="text-align: justify">Following the prior all-time high of $69,000 in 2021, whale behavior shifted towards reducing their Bitcoin stashes. Initiated in February and extending through March, this disposition has led to a narrowing of their aggregate balances and a decrease in the count of wallets containing over 1,000 Bitcoins.</p>
<h2 id="market-dynamics-whale-transactions-shake-bitcoin-valuation">Market Dynamics: Whale Transactions Shake Bitcoin Valuation</h2>
<p style="text-align: justify">The transactions of substantial Bitcoin holders have the potency to sway the market value due to their capacity to inject a sizeable supply instantaneously. The repercussions of their sales are observable, particularly when Bitcoin is on the verge of setting new records. For instance, a stark drop in price was recorded on March 12, when Bitcoin plummeted from $73,000 to $68,000 following a spike in selling activity.</p>
<p style="text-align: justify">Such actions by whales often exert downward pressure on Bitcoin prices. Even so, the cryptocurrency’s resilience to abrupt sell-offs indicates a robust demand capable of absorbing the increased supply. The recent price rebound, achieving a record high, demonstrates this market vigor. Presently, Bitcoin sustains its position above the $72,000 mark, marking a notable 10.49% advancement in the past week.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-hits-record-high-triggering-whales-to-cash-out" rel="noopener noreferrer nofollow">Bitcoin Hits Record High, Triggering Whales to Cash Out</a></h5>

Bitcoin Hits Record High, Triggering Whales to Cash Out

Table of Contents

BH NEWS

Other articles published on Mar 13, 2024

Coinbase to raise $1B through convertible bonds to capitalize on cryptocurrency boom

Bitcoin and Beyond: Unlocking the Secrets of Cryptocurrency

Bitcoin Cash and Uniswap Fans Embrace DeeStream (DST) Streaming Innovation

Lido DAO (LDO) Can Lose Its Position Over InsanityBets (IBET) If Crypto Staking Purge Continues

Bitcoin’s Price Surge Creates New Millionaires

Welcome to Linea Park: Revolutionizing Web3 Gaming and Social Dapps

Join our free newsletter for daily crypto updates!