Bitcoin Market Plummets After Whale’s $24,000 BTC Sale

A major cryptocurrency whale unloaded a substantial 24,000 Bitcoin (BTC) worth roughly $3 billion on August 24th, 2023, triggering a significant drop in the market. This event shifted institutional interest to Ethereum (ETH), signaling potential for an altcoin season with large-scale liquidations primarily affecting BTC holdings. The sale prompted further price decline below the $111,000 mark and resulted in over $550 million worth of liquidations. 24,000 Bitcoin was transferred to Hyperunite, a crypto exchange.