Whale who held BTC for over a year and lost $20M deposits 625 BTC ($40M) to FalconX exchange, likely preparing to sell.
A large Bitcoin holder who has been holding for over a year and is down over $20 million has moved 625 BTC to the FalconX exchange, signaling a potential sell-off.
Details
A Bitcoin whale who held BTC for over a year and is down more than $20 million has deposited 625 BTC, worth approximately $39.96 million, to the FalconX exchange, according to on-chain data from Lookonchain. The move suggests the whale may be preparing to sell. Such large deposits to exchanges often signal an intent to liquidate, which could add selling pressure on Bitcoin. Traders should monitor for potential volatility as the market digests this development. If the whale executes the sale, it could further impact BTC's price in the short term.
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