Bitcoin’s price dropped below $71,000 amid significant whale activity, according to reported data. While two long-term holders sold large portions of their holdings, one notable whale has been accumulating Bitcoin consistently over the past week, purchasing over $190 million worth.
Bitcoin’s price dropped below $71,000 in the past 24 hours, marking its first dip below that level since the weekend. The price decline coincided with large-scale sell-offs from certain OG whales, though the US Federal Reserve has also been cited as a factor.
Lookonchain reported that an ancient Bitcoin wallet sold another 1,000 BTC, worth around $71 million. This entity received 5,000 BTC over 12 years ago and began selling in November 2024. The whale has sold 3,500 BTC at an average price over $96,000, “profited around $442 million, or a 266x return.”
Another OG wallet, flagged as belonging to Owen Gunden, sold 650 BTC in the past day. This followed a previous large dump of 11,000 BTC, worth over $1.1 billion at the time. These substantial sales preceded or coincided with Bitcoin’s notable price drop from above $74,000.
One whale has been actively buying Bitcoin daily since March 10. This entity spent another $37 million to acquire over 500 BTC yesterday. The whale has accumulated a total of 2,656 BTC at an average price of just over $72,000 since March 10, worth around $190 million.
