Bitcoin whale is ‘dumping’ again as BTC flatlines at $116K

A Bitcoin whale that swapped $4 billion in Bitcoin for Ether two weeks ago has started offloading more of the cryptocurrency.

A long-term Bitcoin holder who sold $4 billion of his holdings for Ether last month has started selling again as Bitcoin crossed $116,000 for the first time in three weeks.

Two Bitcoin (BTC) wallets tied to an address that had held onto the cryptocurrency for over eight years deposited 1,176 BTC worth over $136 million into the trading platform Hyperliquid on Sunday and “started dumping,” according to Lookonchain on X.

Lookonchain said the wallet had taken a two-week break after it exchanged over $4 billion worth of Bitcoin in the second half of August, nearly 36,000 BTC for Ether (ETH).

Read more