Bitcoin

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According to data provided by <a href="https://x.com/lookonchain/status/1834068198448341195">Lookonchain</a>, a whale recently withdrew a total of 800 BTC (more than $45.37 million) from Binance.&nbsp;
As noted by the firm, this is the same whale who foolishly lost a whopping $40 million with some poorly-timed trades.&nbsp;
The whale in question purchased $19 million worth of Bitcoin on Sept. 3, expanding their $136 million buying spree.&nbsp;&nbsp;
Prior to that, the whale sold nearly half a billion dollars worth of Bitcoin between June 27 and July 8.&nbsp;
These sales took place at price lows despite after the whale purchased Bitcoins at higher prices.&nbsp;
It remains to be seen whether the whale will be able to bounce back with the most recent trades.&nbsp;
The largest cryptocurrency is currently trading at $58,113 after adding 2.6% over the past 24 hours.&nbsp;
<h2 id="a-drop-in-whale-transactions">A drop in whale transactions&nbsp;</h2>
Despite some massive transfers that are occasionally recorded by analytics firms, whale transactions are getting less frequent, according to Santiment.&nbsp;
The firm recently pointed to the fact that there has been a substantial decline in whale transactions since mid-August.&nbsp;
Bitcoin, for instance, experienced a 33% drop in transactions that exceeded the $100,000 mark since its April peak. &nbsp; &nbsp;
As noted by Santiment, this does not necessarily have to be treated as a bearish signal. However, this shows that major players currently remain on the sidelines, waiting to place their bets when the market enters a phase of extreme fear or extreme greed. &nbsp;&nbsp;
Hence, it is safe to suggest that such transactions will likely remain <a href="https://x.com/santimentfeed/status/1833888352246067502">suppressed</a> for now until another major move.&nbsp;

After Losing $40 Million, This Bitcoin Whale Makes Next Major Move

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