One of the largest crypto kits may sell bitcoins for $ 1 billion

One of the largest bitcoin holders may be preparing for a large-scale sale of the cryptocurrency worth more than $ 1 billion. According to the Arkham analytical platform, the investor recently moved 3,549 BTC (approximately $ 361.8 million) from his main wallet. Part of the funds, namely 600 BTC ($ 61.2 million), has already been transferred to the Kraken exchange, which often indicates intentions to sell assets.

A day earlier, on November 8, the whale made a similar transaction: 3,600 BTC ($ 372 million), of which 500 BTC ($ 51.7 million) also ended up on Kraken. The rest remained at a fixed address, probably in anticipation of further transactions. In total, the investor transferred more than 7,100 BTC in two days, and about 11,000 BTC in recent weeks, which is equivalent to $ 1.12 billion at the current exchange rate.

Such large transfers to centralized exchanges usually indicate preparations for a sale, which can put pressure on the market and cause a short-term price drop. Analysts expect increased volatility in bitcoin in the coming days as market algorithms and traders respond to such signals by increasing the volume of short positions.

The situation is further complicated by the fact that bitcoin cannot stably stay above $ 100,000 and periodically corrects below this mark. An additional factor of pressure was the massive withdrawals of institutional investors from bitcoin ETFs: almost $ 2 billion was withdrawn from the funds over the past week, one of the largest outflows since the launch of such products.

At the time of publication, bitcoin was trading at around $ 102,000, down 0.5% on the day and more than 8% on the week. Analysts continue to monitor the activity of major players, as their actions can significantly affect market dynamics in the short term.