Bitcoin drops below $55,000! Market fear intensifies and whales on the chain flee

At approximately 8:30 this morning, Mt. Gox transferred 47,229 Bitcoins (worth approximately US$2.71 billion) from the cold wallet to a new address. Although the purpose of this transfer is not yet clear, it coincides with the exchange’s plan to repay Occurs on the occasion of creditor, so may be in preparation for repayment.

This news may once again bring panic to the market. Bitcoin once fell below US$55,000 at around 11 a.m., hitting a new low in 4 months. At the time of writing, Bitcoin rebounded to $55,337, down 6.01% in the past 24 hours.

Giant whales began to flee

And as the market took a turn for the worse, many giant whales began to flee in the morning. According to on-chain analyst Ember Monitoring, at about 8 o'clock this morning, a whale who had previously been long ETH with on-chain leverage sold 26,600 ETH and exchanged it for 82.52 million USDT to unload the leverage. At the same time, ETH fell from $3,160. $100 to $3,060.

Aunt Ai also monitored that the giant whale that opened a position of 27,332 $ETH at an average price of $2,210 in the past nine months is reducing its position and taking profits, with a total profit of about $27.8 million. The whale continued to buy ETH from exchanges and on-chain from the end of September last year to June 10 this year, accumulating a total of US$60.4 million worth of ETH. Earlier today, Ai Aunt once again posted that a giant whale liquidated BTC worth $78.87 million at an average price of $66,792 two weeks ago, making a profit of $22.18 million.

In addition, Whale Alert also detected that $4.1 million worth of $DOGE was transferred to Binance at 10 a.m.; earlier this account also detected that $15.49 million worth of $XRP was transferred to Bitstamp, both are possible It’s in preparation for sale.

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