The post Bitcoin Whales Exit Early, Face $30M Loss appeared first on Coinpedia Fintech News
Amid recent Bitcoin corrections, the whales are taking an early exit. Recently, four whales that had withdrawn 8,510 from the Bitfinex Exchange in July and August took a small exit. The whales have deposited 1,500 BTC worth $92.95M back into the system in the last 30 hours. They had accumulated at an average price of $64,434 and their recent offloading price stands at $61,965. Hence, the estimated loss for the four whales accounts for $30.54M, or nearly 5.5% of their holdings. Despite the setback, the whales still hold ~7,000 Bitcoins worth $424M in their wallets, which could lead to substantial supply inflow if the whales consider selling in the future.