Crypto: Whale Dumps 24,000 BTC, Bulls Remain Optimistic
Bitcoin Whale Stuns Market With 24,000 BTC Sell-Off
Over the weekend, the crypto market witnessed a sudden flash crash as a Bitcoin whale unexpectedly sold 24,000 BTC, worth approximately $2.7 billion.
Within just 10 minutes, Bitcoin’s price plunged 3.74%, wiping out more than $623 million in long positions (according to CoinGlass data).
Despite the sharp volatility, Bitcoin quickly rebounded and is currently trading around $113,169, up more than 2.4% from its weekend low of $110,484 (CoinGecko data).
Why Bitcoin Still Holds a Bullish Outlook
Many experts believe this event is not a bearish signal, but rather a sign of a maturing market:
Thin weekend liquidity + high leverage amplified the crash (Sean Dawson – Derive).
The whale still holds over 152,000 BTC (~$17.3 billion), showing the sell-off hasn’t changed the long-term trend (Sani – Timechain Index).
Options data indicates traders are still heavily betting on the $135K–$155K price range, confirming bullish sentiment.
Analyst Alex Krüger also noted: “Once Bitcoin breaks above $113,500 – $114,000, upward momentum should resume much more easily.”
Market Perspective: Bulls Still in Control
This whale sell-off is viewed as a necessary step for supply-demand rebalancing. Vijay Boyapati emphasized: “Whale selling is essential for Bitcoin’s full monetization as global money.”
Additionally, improving macroeconomic conditions following Federal Reserve Chairman Jerome Powell’s recent remarks are further boosting optimism in the crypto market.
Conclusion
Although the flash crash liquidated many traders, on-chain and derivatives data show Bitcoin is still maintaining a long-term bullish trend.
Investors are advised to closely monitor the $113,500 – $114,000 range, which could serve as the “gateway” to the next major rally.
Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.