Bitcoin's price remains in the $61,000 range without reaching new highs, leading to the impatience of major investors.

Current State of the Bitcoin Market

Bitcoin's price has failed to reach new highs and remains in the $61,000 range. Despite investors' expectations, the largest cryptocurrency has not surpassed its March all-time high of $73,780.

Actions of the Large Investor

According to Spot On Chain, a large Bitcoin investor with four new wallets withdrew 8,510 BTC from Bitfinex in June and August. Over the past 30 hours, the investor has deposited 1,500 BTC back to the crypto exchange. The average purchase price was $64,434, while the selling price is lower at $61,965, leading to a loss of $30.54 million, or 5.57%.

Consequences and Forecasts

Some view this as panic selling. It is assumed that the investor might be anticipating a price crash, trying to reduce further losses. This action may further pressure Bitcoin's price growth.

The asset redistribution by a large investor influences the Bitcoin market, potentially leading to new price changes in the future.