Bitcoin Whale Takes $20M Hit as Market Remains Weak

A significant whale in the Bitcoin market has sold off 625 BTC, worth approximately $39.96 million, after being dormant for over a year.

The whale initially purchased these tokens when the price of BTC was around $96k, and spent a total of $59.98 million.

Since then, the value of Bitcoin has decreased by about 33%, resulting in a loss of over $20 million for the whale.

This move diverges from the sentiment among long-term holders (LTHs), who have been reducing their spending and holding onto their assets despite significant unrealized losses.