The global digital assets market shows a decline as Bitcoin dips below the $61,000 mark, driven by PlusToken crypto transfers and whale activities.

Whale Sales and Their Consequences

According to SpotOnChain, a group of four major wallets moved 1,500 BTC to centralized exchanges. These cryptocurrencies were acquired at an average price of $64,434 and sold at $61,965, resulting in a $50 million loss.

Role of Ancient Whales

CryptoQuant founder Ki Young Ju noted that ancient Bitcoin whales remain inactive. Historically, moving bitcoins dormant for over 7 years has triggered market volatility.

Market Liquidations

According to Coinglass data, more than $42 million worth of long and short positions were liquidated. Significant losses were borne by traders betting on Bitcoin's further growth, with 94% of liquidations being long positions.

The cryptocurrency market has faced significant volatility swings. Indifferent actions from major players and the movement of historically inactive assets point to potential price fluctuations in the near future.