The whale that sold 24 thousand BTC brought a drop to the crypto markets.

On Friday, Bitcoin, which rose after the speech of Fed Chairman Jerome Powell at Jackson Hole, faced selling pressure again before the weekend was over. On-chain analysts pointed to the sales made by a giant whale as the reason for this.

Of the 24 thousand, 12 thousand were sold yesterday

The whale holding nearly 200 thousand Bitcoin has been a hot topic in the crypto world due to its recent sales. This whale sold a total of 24 thousand BTC between August 16-24, and sold 12 thousand of those coins just yesterday. This led to Bitcoin reaching a level of 110,600 dollars.

Experts are divided on this issue. While some claim that sales trigger other major sales, others argue that a single large sale would not cause such a massive wave of decline. It is worth noting that in July, 80,000 BTC were sold through Galaxy Digital, but there was no significant drop in the price of Bitcoin.

Holding more than 150k BTC

It is reported that the selling whale still holds more than 150,000 BTC. This 152,874 BTC, valued at approximately 17 billion dollars, is creating serious fear in the market.

Chinese state claim…

The ownership of the wallet is unknown, but it appears that some of the sold Bitcoins have not moved for over 5 years. Some on-chain tracking experts associate these coins with BTCs deposited to the Huobi exchange 6 years ago. There are also claims that Justin Sun, one of the executives of the exchange currently known as HTX, is involved in the sales...

Such large BTC sell-offs also support the claim about the Chinese state. As is known, the USA and China are two major states holding close to 200,000 Bitcoin each. The transparency of the USA and the much more opaque dealings of China highlight the possibility of the Chinese state making sales. However, there is still no clear indication regarding this matter.

Published: August 25, 2025 11:26Last Updated: August 25, 2025 11:31