Bitcoin News Today: Bitcoin Whales Take Different Paths: Selling Off or Increasing Holdings as Prices Fall?
- Bitcoin whale Owen Gunden transferred $43.55M BTC to Kraken, following a $290M deposit, amid a 12% price drop from BTC's all-time high. - Another Ethereum whale deposited $7.92M ETH (12,778x ROI) into Kraken, maintaining a $58.73M position at $0.31 cost basis despite market volatility. - Analysts view whale activity as routine portfolio management, noting Gunden's transparent transactions lack directional bias during broader market uncertainty. - Diverging whale strategies emerge: some offload assets whi
Large-scale transfers of
These movements highlight ongoing liquidity adjustments among major crypto holders. Gunden, with an estimated $785 million in BTC and a net worth of $1.3 billion as of September, is known for his experience navigating market cycles. He previously received 600 BTC as a creditor during the bankruptcy cases of BlockFi and Genesis Trading, both platforms he had previously used. In a separate development, another major whale deposited 2,000
Analysts have described these transactions as typical portfolio rebalancing rather than signs of bearish sentiment. Onchain Lens pointed out that Gunden’s recent transfers do not indicate a specific market direction and stressed the importance of transparency in transaction origins. Still, these actions come at a time of heightened uncertainty, as Bitcoin struggles to recover ahead of the U.S. Federal Reserve’s November meeting. The recent price drop has led to differing approaches among whales: while some, like Gunden, are selling, others are increasing their holdings. Notably, a “smart trader” with a perfect record in 14 trades has amassed $275 million in BTC, ETH, and SOL, realizing $16 million in profits.
The relationship between whale transactions and overall market sentiment continues to be closely watched by analysts. Lookonchain noted that, despite the downturn, some large investors are taking advantage of volatility to acquire assets they believe are undervalued. Ultimately, the market’s ability to recover will depend on whether these moves signal long-term confidence in Bitcoin or are simply responses to short-term economic uncertainty.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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