U.Today – A “diamond hands” investor who has been holding the major cryptocurrency for five years made headlines by selling 199 BTC worth about $13.55 million just over an hour ago, Lookonchain reported. Initially, this anonymous investor withdrew Huobi 801 BTC worth approximately $8.25 million from the exchange five years ago at a price of $10,297.
However, last month they sold 500 BTC for approximately $32.13 million. After these transactions, the investor now holds 301 BTC, equivalent to approximately $20.42 million, for a total profit of $44.28 million.
Meanwhile, the price of the main cryptocurrency continues to hover around the key level of $68,000. With no sellers in sight, the consensus at this stage is that if the price holds and the rally continues towards $70,200, this could signal the beginning of a fresh wave of growth.
This logic is based on the fact that BTC has hit a target of $68,550, which is the final target from a technical perspective, with a starting point of $52,500 and key support currently at $65,800.
On the one hand, consolidation below this level would open the door to levels as low as $63,000 and $55,800 per BTC in the long term. On the other hand, as long as we are closer to $70,200, the tug of war will be on the side of the bulls.
From this point of view, if the Bitcoin price remains in some kind of equilibrium, the actions of the so-called the “diamond hand” whale are fully understandable and rational, because they simply adjust the risk to the current, not very current situation. clear picture while still saving most of the assets as bullishness remains the main bias.
