{"id":502293,"date":"2022-10-20T11:12:52","date_gmt":"2022-10-20T08:12:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018\/"},"modified":"2022-10-20T11:12:52","modified_gmt":"2022-10-20T08:12:52","slug":"capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018\/","title":{"rendered":"# Capitulation or profit-taking? Bitcoin whale moves 32K BTC dormant since 2018"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a503842eef64\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a503842eef64\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018\/#%E2%80%9D_Capitulation_or_profit-taking_Bitcoin_whale_moves_32K_BTC_dormant_since_2018_%E2%80%9C\" >&#8221; Capitulation or profit-taking? Bitcoin whale moves 32K BTC dormant since 2018 &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018\/#Buyer_could_be_%E2%80%9Cwilling_to_acquire%E2%80%9D_32000_BTC_at_19000\" >Buyer could be \u201cwilling to acquire\u201d 32,000 BTC at $19,000<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018\/#Exchange_balances_accelerate_fall\" >Exchange balances accelerate fall<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Capitulation_or_profit-taking_Bitcoin_whale_moves_32K_BTC_dormant_since_2018_%E2%80%9C\"><\/span>&#8221; Capitulation or profit-taking? Bitcoin whale moves 32K BTC dormant since 2018 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4b69a2fe>Bitcoin (BTC) worth over $600 million moved for the first time since the last bear market on Oct. 18, analysis has revealed.<\/p>\n<p>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread, monitoring resource Whalemap <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1582795619961171968\">flagged<\/a> a transaction involving 32,000 BTC.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Buyer_could_be_%E2%80%9Cwilling_to_acquire%E2%80%9D_32000_BTC_at_19000\"><\/span>Buyer could be \u201cwilling to acquire\u201d 32,000 BTC at $19,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the latest sign that the current spot price is affecting the behavior of even longer-term holders, a whale entity that purchased BTC near the pit of the last bear market <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to have sold.<\/p>\n<p>According to Whalemap, 32,000 coins left their wallet for the first time since December 2018 this week.<\/p>\n<p>\u201c32,000 Bitcoins belonging to a whale wallet moved yesterday. They were dormant since Dec 2018,\u201d the Whalemap team wrote in accompanying commentary. <\/p>\n<p>While it is unknown exactly what was behind the decision, Whalemap was quick to argue an alternative perspective to the classic bear market narrative \u2014 major investors capitulating at the lows. The team added:<\/p>\n<blockquote><p>\u201cTransactions like this usually signify OTC trades, meaning someone is willing to acquire those 32k bitcoins right now.\u201d\u00a0<\/p><\/blockquote>\n<p>Despite BTC\/USD being down over 70% from all-time highs, the 32,000 BTC stash would have made a significant profit, having been purchased at $3,900.<\/p>\n<p>Four years later, they are worth $612 million versus the roughly $124 million paid.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/8c745628-2e66-4b4b-88de-9e20214bb711.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin whale outflows annotated chart. Source: Whalemap\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Continuing, Whalemap noted that due to the popularity of the 2018 lows as a buy-in point, that price zone represents a significant area of support.<\/p>\n<p>\u201cNot many people know about this but a lot of Bitcoin was accumulated by whales exactly in the region that the above transaction is coming from,\u201d it wrote:<\/p>\n<blockquote><p>\u201cEven right now, 337k of accumulated BTC is still being HODLed in those wallets. A super important area in BTC land to keep ur [eye] on.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/162f7be1-638a-4982-b5b4-8df80a913827.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin wall inflows annotated chart. Source: Whalemap\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Exchange_balances_accelerate_fall\"><\/span>Exchange balances accelerate fall<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Signs that even $19,000 is becoming popular as a BTC trading or investment play are coming from exchanges this month. <\/p>\n<p><strong><em>Related:\u00a0Here\u2019s what could spark a \u2018huge BTC rally\u2019 as Bitcoin clings to $19K<\/em><\/strong><\/p>\n<p>Data from on-chain analytics firm Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/studio.glassnode.com\/metrics\">shows<\/a> that over the past few days, major exchanges have seen their BTC balances decreasing more per day relative to the previous month than at any time since mid-July.<\/p>\n<p>The 19 trading platforms tracked by Glassnode were down roughly 100,000 BTC in the past 30 days on both Oct. 18 and Oct. 19.<\/p>\n<p>The last date that exchanges ended the day with more BTC than they started with versus a month prior was Oct. 8.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/d1274b24-bdc9-4573-bdfe-4e3816db37bd.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange 30-day net position change chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>Exchanges\u2019 total balance was just over 2.34 million BTC as of Oct. 19, down from 2.46 million at the end of September.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/657ca403-1e07-431a-a264-a7b26b097fa0.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin exchange balance chart. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/capitulation-or-profit-taking-bitcoin-whale-moves-32k-btc-dormant-since-2018\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Capitulation or profit-taking? Bitcoin whale moves 32K BTC dormant since 2018 &#8220; Bitcoin (BTC) worth over $600 million moved for the first time since the last bear market on Oct. 18, analysis has revealed. In a Twitter thread, monitoring resource Whalemap flagged a transaction involving 32,000 BTC. Buyer could be \u201cwilling to acquire\u201d 32,000&#8230;<\/p>\n","protected":false},"author":1,"featured_media":502294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvOWJlMDFmZmEtYmJkZS00ZTY2LThmMTktMWNmNzZiMzE4ZjMyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74860,73785],"class_list":["post-502293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrency-exchange","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=502293"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/502293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/502294"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=502293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=502293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=502293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}