The Whale Who Accumulated Bitcoin 4 Months Ago Has Started Selling at a Loss: Could This Be a Bottom Signal? - Coin Bulletin

A whale that bought a large amount of Bitcoin four months ago has deepened its millions of dollars loss with the recent selling wave.

According to on-chain data, a large Bitcoin investor (balina) recently sold another 400 BTC at a loss after taking it out of staking. This transaction is a continuation of the sell-off that the investor has been making since March. In total, the whale bought 2,000 BTC at $98,896 and spent $197.8 million on these assets.

The first selling movement started on March 11. Since this date, the whale has sold a total of 1,200 BTC at an average price of 82,171 dollars. With the most recent sale of 400 BTC, this investor has realized 98.6 million dollars in sales and recorded a total of 31.8 million dollars in losses.

The selling at a loss by such large investors is interpreted as a remarkable development in the market. The closing of positions by whales generally has the potential to increase market pressure. Especially, the panic selling at a loss by investors who purchased at high prices during a downturn may signal that confidence in the market has been undermined.

However, these sales can also be interpreted as a signal of a price bottom.