One of the biggest Bitcoin (BTC) whales in the world is rapidly selling off BTC amid the crypto market upswing.
The whale, which was the richest non-exchange address in the world until earlier this week, has sold off a whopping 78,484 BTC since Monday, according to BitInfoCharts.
[adinserter block="1"]With Bitcoin trading for $23,258 at time of writing, that haul is worth more than $1.825 billion.
The whale now holds around 54,398 BTC, which makes it the 13th-richest BTC address including exchange wallets. The whale’s rapid sell-off comes on the heels of a steady accumulation period when its holdings grew to more than 132,000 Bitcoin, the most BTC it ever held.
Crypto analytics firm Santiment notes that BTC whale activity spiked on Monday.
“The amount of Bitcoin transactions valued at over $1 million spiked to its highest value in over a month. Whale moves are busy today, and spikes such as this one can often be a precursor to price direction shifts.”
The firm noted last week that big wallets were on the rise as the number of addresses holding more than 10 BTC reached its highest level since February 2021.
BTC is up more than 1.3% in the past 24 hours and nearly 15% in the past seven days.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Dima Zel/Nikelser Kate
