Bitcoin Zilla (BTC), an investor with over 1,000 cumulative currencies, appeared in a massive sales scenario last month.
These investors have been selling 147,000 Bitcoins since August 21st. The fastest monthly exit recorded in the current cycle.
Many of these sales came from long-term holders (LTHs) who are making profits. LTH is an investor with more than 155 days of BTC (some have protected BTC for several years). The latter sent 1,400 BTC in exchange on September 22, hours before the currency lost its 115,000 US dollar level.
The impact was reflected in the exchange. On the same September 22nd, Binance, the second largest whale, was produced in a month. $120 million in BTC under liquidation. The next day, the platform received an additional $52 million.
In general, the market was already paying attention to previous movements. On September 15th, one of the whales related to the Nakamoto era sold 1,175 BTC in 24 hours. The operation exceeded $135 million.
Bitcoin Zilla liquidation is one of the reasons why digital currency prices are weakened. Since September 17th, BTC has been bearish behaviour, and has since declined on average by 3%. As shown in the crypto pricing calculator, the currency has now gone from USD 117,000 to USD 113,000.
That day, the Federal Reserve announced interest rate cuts, raising it to 4% per year.
Large-scale actor sales pressure arises when the market is still trying to consolidate support. These numbers are Beyond individual profits there is an adjusted pattern of sales by whales.
The above adds uncertainty regarding the ability to maintain oneself at current levels, enhancing market surveillance with fragile stages and cooling risks.
