In a stunning Bitcoin news development, an ‘Ancient Whale’ has made waves by selling 80,000 BTC, temporarily pushing prices down to $115,000 before recovery. This massive transaction, worth $9.6 billion, tested market resilience as Bitcoin stabilized at $119,000. Remarkably, 97% of Bitcoin’s circulating supply remains profitable despite this significant sell-off.
How Did the Bitcoin Market React to the Whale Sale?
The market absorbed this enormous sell pressure with surprising stability. Here’s what happened:
- Immediate price drop to $115,000 following the sale
- Quick recovery to $119,000 within hours
- Minimal long-term impact on market structure
- Continued strong demand from other investors
What Does 97% Profitable Supply Mean for Bitcoin?
Glassnode data reveals nearly all Bitcoin holders are currently in profit:
| Metric | Value |
|---|---|
| Profitable Supply Percentage | 97% |
| Total Unrealized Profits | $1.4 trillion |
| Current Price Range | $105,000-$125,000 |
Where is Bitcoin Price Headed Next?
Analysts identify two potential scenarios:
- Bullish Case: Break above $125,000 could trigger rally to $141,000
- Bearish Case: Failure to hold $105,000 may lead to deeper correction
Why Does Whale Activity Matter in Bitcoin News?
Large holders significantly impact market psychology and liquidity. This event proved Bitcoin’s growing maturity as the market absorbed a $9.6 billion sale without crashing.
Frequently Asked Questions
Q: Who is the ‘Ancient Whale’ that sold Bitcoin?
A: The identity remains unknown, but the term refers to early Bitcoin adopters holding large amounts since BTC’s early days.
Q: How much Bitcoin did the whale sell?
A: The transaction involved 80,000 BTC, worth approximately $9.6 billion at the time.
Q: Why didn’t the price crash more significantly?
A: Strong underlying demand and market depth absorbed the selling pressure, showing Bitcoin’s growing maturity.
Q: What percentage of Bitcoin supply is now profitable?
A: 97% of circulating Bitcoin is currently held at a profit according to Glassnode data.
Q: Where is Bitcoin’s price likely to go next?
A: Analysts watch the $125,000 resistance level – a breakout could signal a move toward $141,000.
