Bitcoin Whales May Have Sold 80 Billion Yen Worth of BTC in Two Days, Also Purchasing Large Amounts of Gold Tokens

Blockchain analytics platform Arkham reported that a major wallet '3NVeXm' deposited a total of 7,900 BTC (worth approximately 80 billion yen) into Binance over the past two days.

The breakdown was 5,000 BTC on the first day, followed by deposits of 1,800 BTC and 1,100 BTC the next day, split into three transactions. Large deposits into exchanges are often interpreted by the market as preparatory moves for selling, and are commonly viewed with caution as they can lead to selling pressure.

As the cryptocurrency market undergoes adjustments, major holders continue to exert selling pressure for profit-taking or loss avoidance. In such phases, institutions...