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A "diamond hands" Bitcoin investor, which has been holding the major cryptocurrency for the last five years, has made headlines by selling 199 BTC, valued at approximately $13.55 million, just over one hour ago, as <a href="https://x.com/lookonchain/status/1847196510666346762" rel="noopener noreferrer nofollow">Lookonchain</a> reported. Initially, this anonymous investor had withdrawn 801 BTC, worth around $8.25 million, from the Huobi exchange, at a price of $10,297 five years ago.
However, in the last month, they sold 500 BTC for about $32.13 million. After these transactions, the investor currently holds 301 BTC, equivalent to roughly $20.42 million, resulting in a total profit of $44.28 million.
Meanwhile, the price of the major&nbsp;<a href="https://u.today/dogecoin-whales-buy-899-more-doge-amid-meme-coin-price-increase" rel="noopener noreferrer nofollow">cryptocurrency</a> continues to circle around the crucial $68,000 level. With no sellers in sight, the consensus opinion at this stage is that if the price holds there and the growth continues toward $70,200, it could mark the beginning of a new wave of growth. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="e00da9e7-e636-4449-9b33-c1e636f23b09" src="https://u.today/sites/default/files/inline-images/bitcoin_22.png">Source: <a href="https://platform.arkhamintelligence.com/explorer/address/1JA46eiDpfx589wawn5RvtEXgwc518QfhZ" rel="noopener noreferrer nofollow">Arkham Intelligence</a>
This logic is based on the fact that BTC has reached the target of $68,550, which is the final target from a technical point of view, with $52,500 as the starting point and key support currently at $65,800.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="59e11a52-072f-44f9-b535-5e1ee4e17909" src="https://u.today/sites/default/files/inline-images/btc_601.png">BTC to USD by <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
On the one hand, consolidation below this level in the longer term would open the door to levels as low as $63,000 and $55,800 per&nbsp;<a href="https://u.today/1-million-bitcoin-surprise-epic-statement-made-by-samson-mow" rel="noopener noreferrer nofollow">BTC</a>. On the other hand, as long as we are closer to $70,200, the tug-of-war rope is on the bulls' side.
From this point of view, if the price of&nbsp;<a href="https://u.today/key-reason-for-bitcoin-to-hit-220000-very-soon-shared-by-max-keiser" rel="noopener noreferrer nofollow">Bitcoin</a> remains in a sort of equilibrium, the actions of the so-called "diamond hand" whale are fully understandable and rational, as they are just adjusting the risk to the current not-so-clear picture, still saving most of the holdings as the bullish bias remains the main one. <a href="https://u.today/diamond-hands-bitcoin-investor-sells-btc-after-5-years-of-hodling" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

'Diamond Hands' Bitcoin Investor Sells BTC After 5 Years of HODLing

U_Today

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