Bitcoin Whale Resumes Selling as BTC Hits $116,000
- A long-term Bitcoin holder sold over $4 billion worth of Bitcoin for Ether last month.
- Two wallets, inactive for over eight years, deposited a total of 1,176 BTC (worth over $136 million) into Hyperliquid on Sunday.
- The ETH to BTC ratio currently stands at approximately 0.0401, up by 6% in the past month.
- Bitcoin has struggled to maintain momentum above the $116,000 resistance level since reaching it for the first time in three weeks.
- BTC is down about 7% from its peak of over $124,000 on August 14.
Recent whale activity indicates significant market movements that could impact Bitcoin prices. The selling trend from large holders may influence trader sentiment and market dynamics as they offload substantial amounts of Bitcoin.
As Bitcoin hovers around $116,000 and faces selling pressure, recent transactions involving over $136 million in BTC highlight the potential for price fluctuations driven by whale activity. (Source)
