Bitcoin Plummets Below $110,000 After Whale Sell-Off

Bitcoin Plummets Below $110,000 After Whale Sell-Off

Bitcoin’s value fell below $110,000 due to a major whale’s sale of nearly 24,000 BTC, primarily affecting cryptocurrency exchanges and markets this week.

This event highlights significant shifts in crypto holdings, sparking market volatility and impacting investor sentiment, leading to increased attention on regulatory frameworks and market stability.

Bitcoin’s price fell below $110,000 after major whale addresses liquidated assets. This sharp drop was influenced by macroeconomic pressures and technical breakdowns that heightened market volatility.

Major whale addresses such as BTC address “19D5J8” initiated a massive sell-off of nearly 24,000 BTC. The Federal Reserve’s rate guidance also affected investor sentiment, reversing initial bullish expectations.

The crypto market lost approximately $200 billion in value as a result of leveraged positions forced liquidation. Ethereum saw increased accumulation as major holders exited Bitcoin.

This event has significant financial implications, with $900 million in crypto positions liquidated. Analysts noted the rotation into Ethereum highlights strategic moves by large holders amid fluctuating risk sentiment.

“They transferred 12k just today and are still actively selling, which is likely contributing to the ongoing price drop.” — Sani, Founder, TimechainIndex source

Bitcoin’s decline echoes past events like “Black Thursday” in March 2020. Withdrawal of funds affected TVL and staking metrics across DeFi protocols, indicating a shift towards safer assets.

Potential long-term impacts include tighter regulatory scrutiny and shifts in crypto investor strategies . Historical trends suggest increased market volatility during these periods of large-scale asset liquidations, often reshaping market dynamics and investor behavior.