Bitcoin Whale Sells 625 BTC for $20 Million Loss Amid Market Weakness

A large Bitcoin whale recently made headlines by selling 625 BTC worth $39.96 million at FalconX, resulting in a significant loss of over $20 million.

The whale had purchased these tokens at around $96k and held them for over a year before deciding to exit the market during a period of extended weakness.

This move diverged from the broader market sentiment among long-term holders (LTHs), who have been reducing their spending but not selling. The RHODL Ratio has dropped to levels last seen in October 2023, indicating limited selling pressure from LTHs.

The low RHODL ratio and Sell Side Risk Ratio also suggest that market pressure from LTHs is very low, with those exiting being a minority.