A Bitcoin whale has sold the entire of their Bitcoin, ahead of Trump’s white house crypto conference, making a total profit of $51.8 million after holding for over five years.
As per the data on Arkham Intelligence, this whale originally bought 801 Bitcoin in August 2019 at an average price of $10,297 per BTC, spending $8.25 million in total.
Over the years, they slowly sold off their Bitcoin. Five months ago, this whale deposited 199 bitcoins priced at $13.55 million for the total deposit.
On March 6, 2025, at 14:30 UTC, the Bitcoin whale made the final sale, depositing their remaining 301 BTC (worth $27.9 million) to Binance. With this final transaction, the whale’s total profit across all sales now stands at approximately $51.8 million.
Following the whale’s large deposit, the Bitcoin market reacted quickly. Within 30 minutes, Bitcoin’s price dropped by 0.5%, from $92,691 to $92,227.
Trading activity also surged, with Binance reporting a 15% increase in BTC/USDT trading volume, as many traders reacted to the move. Other Bitcoin trading pairs, such as BTC/ETH and BTC/USDC, also saw a 10% rise in trading activity.
On-chain data from Glassnode showed an 8% increase in Bitcoin transaction fees and a 5% rise in active wallet addresses, indicating heightened market activity.
Technical indicators suggested potential short-term volatility. At the time of the final sale, Bitcoin’s RSI (Relative Strength Index) was at 68, signaling that the market was slightly overbought.
Additionally, the MACD (Moving Average Convergence Divergence) showed a bearish crossover, hinting at possible downward momentum. Bollinger Bands widened, further confirming increased price volatility. Other major exchanges like Coinbase and Kraken also reported higher Bitcoin trading volumes.
Also Read: Crypto Price Today (March 6, 2025): Bitcoin Pumps to $92k; SOL, XRP, DOGE Turns Bullish
