A major Bitcoin whale offloaded 24,000 BTC, valued at $2.7 billion, on Sunday, causing Bitcoin's price to plummet by $4,000 within minutes. The sell-off led Bitcoin's price to fall from $114,666 to $112,174, sparking panic in the crypto market. Despite the sale, the whale retains 152,874 BTC, worth over $17 billion.
The event triggered a significant shift of over $2 billion into Ethereum, with $1.3 billion staked. Two whale entities acquired 416,598 ETH, with 275,500 ETH moved into staking, indicating a rotation of Bitcoin profits into Ethereum. This activity highlights growing institutional interest in Ethereum, as evidenced by increased inflows into ETH-linked ETFs compared to Bitcoin ETFs.
Bitcoin Whale Sells 24,000 BTC, Triggers $4,000 Price Drop
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