The Bitcoin market just witnessed one of the largest single transactions in history – an ‘Ancient Whale’ moved 80,000 BTC ($9.6 billion) in what appears to be a strategic sell-off. Yet remarkably, the Bitcoin price only dipped briefly to $115,000 before stabilizing at $119,000, with 97% of all circulating Bitcoin still holding at profitable levels. This surprising resilience reveals critical insights about today’s Bitcoin market structure.
Bitcoin News: Whale Transaction Shakes Market
The recent movement of 80,000 BTC by a long-term holder (dubbed an ‘Ancient Whale’) represents one of the most significant single transactions in Bitcoin history. Key details:
- Transaction value: $9.6 billion at current prices
- Price impact: Brief dip to $115,000 (-3.4%) before recovery
- Current stabilization: $119,000 support level holding
BTC Price Shows Remarkable Resilience
Despite the massive sell pressure, Bitcoin’s price structure demonstrated impressive strength:
| Metric | Value |
|---|---|
| Price Drop | Just 3.4% |
| Recovery Time | Under 24 hours |
| Current Range | $115,000-$125,000 |
Bitcoin Supply Profitability Hits 97%
Glassnode data reveals the broader market context:
- 97% of circulating BTC supply is in profit
- Total unrealized gains exceed $1.4 trillion
- Only 3% of holders are currently underwater
What’s Next for Bitcoin Price?
Analysts identify two key scenarios:
- Bullish Case: Break above $125,000 could trigger rally to $141,000
- Bearish Case: Failure to hold $115,000 may test $105,000 support
The Bitcoin market’s ability to absorb this massive whale transaction without major disruption demonstrates the cryptocurrency’s growing maturity. With 97% of supply still profitable and strong support at $119,000, the fundamentals remain robust despite short-term volatility.
Frequently Asked Questions
Who is the Bitcoin ‘Ancient Whale’?
The identity remains unknown, but the term refers to early Bitcoin adopters who accumulated large amounts when prices were extremely low.
Why didn’t the 80,000 BTC sale crash the market?
Bitcoin’s market depth and liquidity have improved significantly, allowing large transactions to be absorbed with minimal price impact.
What does 97% supply profitability mean?
It indicates that nearly all Bitcoin currently in circulation was purchased at prices lower than current levels, creating strong holding incentives.
Where is Bitcoin price headed next?
Analysts watch the $125,000 resistance level – a breakout could signal new highs, while rejection may lead to range-bound trading.
