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<a href="https://bitcoinworld.co.in/crypto-whales-sold-holdings-before-the-market-crash/" title="Crypto Whales Sold Holdings Before the Market Crash" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Several large-scale investors (crypto whales) have strategically sold a significant amount of Ethereum (ETH), totaling $106 million, during the market dip.</li>
 <li style="font-weight: 400">Notable entities such as Cumberland and bankrupt FTX/Alameda estate were among those identified as participating in the sell-off.</li>
 <li style="font-weight: 400">Despite Bitcoin’s slight rebound from its price decline to around $68,000, its volatility led to a decrease in market capitalization.</li>
</ul>
In the last 24 hours, Bitcoin and altcoins encountered significant volatility, resulting in a notable decline, with the overall crypto market capitalization dropping by approximately 8%, settling at $2.53 trillion.
This swift market fluctuation may have taken many retail traders by surprise.&nbsp;
However, insights from on-chain data reveal that certain large-scale investors, colloquially known as crypto whales, foresaw the downturn and offloaded a substantial portion of their holdings.
<h3 id="span-style-font-weight-400-crypto-whales-offload-holdings-span">Crypto Whales Offload Holdings</h3>
On-chain analysts reported that several institutional investors strategically sold portions of their holdings during the market downturn.&nbsp;
See Also: <a class="row-title" href="https://bitcoinworld.co.in/why-bitcoin-price-dropped-below-67000-according-to-blockchain-firm/" aria-label="“Why Bitcoin Price Dropped Below $67,000, According To Blockchain Firm” (Edit)" rel="noopener noreferrer nofollow">Why Bitcoin Price Dropped Below $67,000, According To Blockchain Firm</a>
Four crypto whales collectively offloaded 31,683 ETH, valued at approximately $106 million.
Among the identified crypto whales were notable entities such as Cumberland, an address linked to the bankrupt Alameda/FTX estate, and two undisclosed altcoin wallets.
Cumberland, a prominent institutional crypto investment firm, deposited 17,206 ETH, amounting to $57.3 million, across various exchanges.&nbsp;
On the other hand, two crypto whales, ‘0xC3f8’ and ‘0x1717’, moved 7,976 ETH worth $26.6 million and 4,000 ETH worth $13.32 million, respectively, to Binance and other exchanges.
Similarly, the FTX/Alameda estate transferred 2,500 ETH, valued at around $8.33 million. Interestingly, this is not the first time the failed exchange has effectively been able to time the market before drastic sell-offs.
“Since March 1, FTX and Alameda have deposited 15,850 ETH, worth $58 million into centralized exchanges at roughly $3,659, and dramatic price changes tended to follow afterward,” blockchain firm SpotOnChain <a href="https://twitter.com/spotonchain/status/1778962293235360056" rel="noopener noreferrer nofollow">said</a>.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#FTX</a> and <a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Alameda</a> Research liquidators truly have a knack for choosing their exit points!
 Just 8 hours ago, they deposited another 2,500 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($8.56M) into <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> at ~$3,426, right before the recent <a href="https://twitter.com/hashtag/dump?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#dump</a>!
 Since Mar 1, FTX and Alameda have deposited 15,850 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($58M) into… <a href="https://t.co/CPAJd8EaIJ" rel="noopener noreferrer nofollow">pic.twitter.com/CPAJd8EaIJ</a>
 — Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1778962293235360056?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
These significant trading activities exerted additional selling pressure on the market, contributing to the downturn.&nbsp;
During the reporting period, BTC’s price experienced a sharp decline, plunging to as low as $65,100.
Although the leading cryptocurrency has slightly rebounded to around $68,000 at press time, its volatility led to a decrease in market capitalization to $1.3 trillion.&nbsp;
According to <a href="https://companiesmarketcap.com/assets-by-market-cap/" rel="noopener noreferrer nofollow">data</a> from CompaniesMarketCap, this positions Bitcoin behind Meta, the parent company of Facebook, in the global ranking of top assets.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
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Crypto Whales Sold Holdings Before the Market Crash

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