Bitcoin and Ethereum Whales Dump $581M in 24 HoursâThey Could Be Taking This Opportunity
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The crypto market was hit by a wave of heavy corrections as a rough weekly outing triggered cautious sentiment among investors. During the downturn, heavy liquidations were recorded as some whales took profits while others moved to limit losses.
On-chain data shows increased activity from large Bitcoin and Ethereum holders. In fact, U.S. spot Bitcoin and Ether ETFs recorded combined outflows of over $580 million on Monday, extending a broader trend of capital exits. As these heavy outflows persisted, market watchers observed whales rotating capital into a new game-based memecoin project.
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