Ethereum

Bitcoin

Show

In a related development <a href="https://twitter.com/lookonchain/status/1692494103081263421" target="_blank" rel="noopener noreferrer nofollow">shared </a>by on-chain analyst Lookonchain, some sources suggest that Cumberland made a strategic move by offloading 8K $ETH, valued at approximately $14.4M, prior to the market downturn. Additionally, a withdrawal of 4K $ETH, equivalent to $6.72M, was noted from Binance recently. 
The cryptocurrency community remains vigilant, with many closely monitoring the market’s movements and potential implications. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="535" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-1024x535.png" alt="" class="wp-image-316587" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-1024x535.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-300x157.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-767x401.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-1536x803.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-2048x1071.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-287x150.png 287w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-669x350.png 669w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-601-788x412.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
By exiting minutes before the plunge, Cumberland sidestepped what could have been significant paper losses had they maintained the position. Instead, the firm banked substantial gains and conserved capital to deploy later. 
Many laud Cumberland’s prescience, or at least situational awareness, amid such a violent reversal. While unlikely orchestrators of the crash, their maneuvering suggests Cumberland interpreted warning signs before the worst materialized. 
The cryptocurrency markets have seen a lot of instability, with large asset and exchange liquidations. These liquidations had a stunning total value of close to $1 billion. 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> 
 <div class="rh-colortitle-inbox-label"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Unibot: Trading Intelligence that Makes You 7x More Successful! 
 </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
 <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
 <div class="rh-toggler-wrapper" style="height:100px"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Discover the edge in crypto trading with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Unibot" href="https://captainaltcoin.com/go/unibot/" data-shortcode="true">Unibot</a> – a user-friendly Telegram bot that boasts a 35% profitability rate amongst users, seven times higher than the average trader (only 5% of traders are profitable)! Experience top-notch features like decentralized copytrading, DEX-based limit orders, and protection against MEV bots. <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Unibot" href="https://captainaltcoin.com/go/unibot/" data-shortcode="true"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Click to connect with Unibot <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"></a>! 
 Show more +Show less – 
 </div> 
 </div> 
 </div> 
</div> 
Interestingly, amidst this financial storm, both Bitcoin and Ethereum demonstrated resilience. Bitcoin managed to recover from its lows, hovering around the $26,000 mark, thereby safeguarding the vital support zone that lies between $25,000 and $26,000. Ethereum, on the other hand, managed to stay above the $1,600 support level, even after briefly dropping below $1,700. 
Join us on <a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">Tw</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">i</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">tter</a> and <a href="https://www.facebook.com/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Facebook</a> for the latest insights and discussions in the world of crypto. 
Explore our <a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a> and stay ahead of the curve with our expert <a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>. 
Join us on <a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">Tw</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">i</a><a href="https://twitter.com/CaptainAltcoin" target="_blank" rel="noopener noreferrer nofollow">tter</a> and <a href="https://www.facebook.com/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Facebook</a> for the latest insights and discussions in the world of crypto. 
Explore our <a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a> and stay ahead of the curve with our expert <a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>. 
The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/smart-trader-dumped-14400000-eth-before-the-market-crash-heres-what-happened-next/">Smart Trader Dumped $14,400,000 ETH Before the Market Crash – Here’s What Happened Next</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Smart Trader Dumped $14,400,000 ETH Before the Market Crash – Here’s What Happened Next

CaptainAltcoin

Other articles published on Aug 18, 2023

Federal Judge Upholds Treasury Department’s Sanctions on Crypto Mixing Service Tornado Cash

SEC Wants to Question Terraform Labs Co-founder Daniel Shin in Korea

Walt Disney Stock Price Prediction: Is DIS About To Skyrocket?

SHIB Burn Melesat 64 Persen Pasca Masalah Peluncuran Shibarium

Google Debuts New Upgrades with Advanced AI Capabilities

Dash: The Digital Cash

Join our free newsletter for daily crypto updates!