Bitcoin Plummets to $115,000 as 40,000 BTC Dump Sparks Exchange Chaos
Whales are circling—and they're hungry. Bitcoin's price nosedived to $115,000 after a staggering 40,000 BTC flooded centralized exchanges within 24 hours. Was this a coordinated dump or just another Tuesday in crypto?
The sell-off tsunami
Exchange wallets saw their biggest single-day inflow since the 2024 halving. While retail investors scrambled, institutional OTC desks reportedly scooped up discounted coins—because nothing says 'free market' like whales feasting on panic.
Liquidity crunch or opportunity?
Order books tilted violently as market makers struggled to absorb the sell pressure. Meanwhile, perpetual swap funding rates flipped negative—a classic sign that leverage traders got caught with their hands in the cookie jar.
Remember: in crypto, 'price discovery' is just Wall Street lingo for 'see who blinks first.' The only thing more predictable than these volatility spikes? Traders pretending they saw it coming all along.
Is BTC At Risk As Large Players Take Profit?
In a Quicktake post on the CryptoQuant platform, pseudonymous analyst Caueconomy revealed that cryptocurrency exchanges saw increased activity over the past day. Recent on-chain revelation shows that 40,000 BTC made their way onto these centralized platforms on Friday.
This on-chain observation is based on the bitcoin exchange Inflow – Spent Output Value Bands, which tracks the amount of Bitcoin spent outputs flowing into centralized exchanges at a given time. This metric offers insight into the different investor cohorts contributing the most to the exchange inflows.
As shown in the chart above, this metric has witnessed significant spikes in the past day — which comes as no surprise. As Bitcoinist reported earlier on Friday, Galaxy Digital moved 32,448 BTC (worth over $3.7 billion), with a significant portion (22,700 BTC) going to exchanges.
Caueconomy highlighted that the massive coin movements seen on Friday are connected to some profit-taking by large players in the market. “OTC desks have also been attacking these platforms’ order books,” the on-chain analyst added.
One of the services known to be offered by centralized exchanges is the buying and selling of cryptocurrencies. Hence, the increased FLOW of cryptocurrencies (Bitcoin, in this scenario) is often correlated to increased selling pressure, as coins are often sent to exchanges to be dumped in the open market.
Caueconomy, however, noted that it’s not all gloom for the flagship cryptocurrency yet, as the price of Bitcoin is still well above the $110,000 level. Ultimately, this trend suggests that the net buying interest is still the dominant force in the market in the medium term.
Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $117,346, reflecting an over 0.2% decline in the past 24 hours. According to data from CoinGecko, the market leader is down by nearly 1% in the past seven days.
