A whale captured the crypto market's attention by transferring significant amounts of WBTC to Binance, earning impressive profits.
WBTC Transfer to Binance
According to Spot on Chain, the whale transferred 300 WBTC worth $28.5 million to Binance on January 9. The sale yielded a profit of $9.98 million amidst rising asset prices. The investor sold the tokens shortly before news broke that the U.S. government approved Bitcoin sales.
Bitcoin Price Changes
Today, Bitcoin has fallen amidst concerns over the Fed's hawkish stance. The news that the DOJ received court approval to sell Bitcoin has further worried investors about BTC prices.
Confiscated Bitcoin Sale
Media reports indicate that the DOJ gained permission to liquidate around 69,370 Bitcoins, confiscated during the Silk Road closure. This action contributes to considerable selling pressure on the BTC market.
The whale's actions and government decisions regarding Bitcoin significantly impact its price, causing investor concerns and potential volatility in the crypto market.
