Whale Moves 1,000 BTC as Bitcoin Price Continues to Fall

Bitcoin Drops $33K, Predictions to Hit $10K This Year
  • The price of Bitcoin is now $25,43.91. 
  • Some are hoping for a bigger dump so they can buy Bitcoin at a lower price. 
  • Others are expecting buyers to start buying so the price will recover quickly.

Bitcoin (BTC) seems to have had a haggard weekend as the price of Bitcoin (BTC) dwindled further. Presently, Bitcoin (BTC) price is $25,443.91, according to CoinGecko. During this time, a whale has moved 1,000 BTC ($25,619,347) from an unknown wallet to Bitbank.

It looks like many are panic selling and this whale could be the next one to do so. Responses to the tweet indicate that many are expecting a huge dump for Bitcoin. It seems now with the price falling, many are rooting for a big dump so they can buy Bitcoin (BTC) at a more affordable price. 

In line with this, a Twitter user tweets saying, “5 years from now if you play this right you’ll be incredibly thankful for this bear.” Certainly, many still have faith in Bitcoin but see the big picture where the bear market will prevail for another year at least. 

In detail, the price has gone down by 7.5% in the last 24 hours alone. With a fall of 14.9% in the price of Bitcoin (BTC) in the past week, many Bitcoin and crypto enthusiasts are slowly starting to lose hope. 

Presently, the Crypto Fear & Greed Index is at an astounding 11, indicating Extreme Fear. Clearly, the bear market has shaken the crypto world, and the crypto community is scrambling to find hope. As the price of Bitcoin dips, so have many other altcoins, including Ethereum (ETH), Cardano (ADA), and more. 

While many are selling their crypto assets, others are keeping their eyes on the bigger picture. For instance, Lark Davis tweets an analysis of the crypto market. He highlights how the volume of Bitcoin is super thin at the moment of the sell off. He then expresses how buyers need to step up to trigger Bitcion’s price recovery. 

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A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.