Around the late hours of yesterday, June 24, 2025, the world’s most-priced cryptocurrency, Bitcoin (BTC), elicited a massive sell-off scare when it suddenly dumped below $60,000, hitting to a 30-day all-time low of about $59,400.
However, the drop below $60,000 was transient, as the token has since recovered, trading around the $61,140 price region courtesy of a slight 0.2% upswing in the past 24 hours. The flagship cryptocurrency still controls over 50% of the entire crypto market worth, with a market cap of about $1.2 trillion. In addition, Bitcoin boasts a fully diluted valuation of roughly $1.28 trillion and a tremendous 24-hour trading volume valued around the $39.95 billion price region.
Advertisement
Trader Invests $961 Million In BTC
While the dip was getting worse and eliciting fears among Bitcoin holders, particularly the retailers, whale investors appeared unperturbed, evidenced by a trader who reportedly invested $961 million in BTC.
As expected, the anonymous whale investor’s trading escapades have been making rounds on the microblogging social media platform X, as crypto enthusiasts seem to marvel at the trader’s courage to invest a mouth-watering sum in BTC despite its dwindling state.
🚨 BREAKING 🚨
WHILE YOU’RE PANIC SELLING YOUR
COINS, SOMEONE JUST BOUGHT A
$961 MILLION WORTH OF BITCOIN.GIGA BULLISH 🔥 pic.twitter.com/dQlt9p7dLG
— Ash Crypto (@Ashcryptoreal) June 25, 2024
Transaction Details
According to the tweet, the anonymous trader elicited the transaction on June 24, 2024, at 05:28:23 GMT+2. Notably, the transaction screenshot indicated the total accumulated Bitcoin tokens to be about 15,793.08, with a total valuation of approximately $935,955,847.
Based on the details above, we estimated the cost of the individual tokens mathematically, from which we deduced that the trader spent approximately $59,260. Hence, it becomes safe to say that the investor in this insight was clever in his estimation, which saw him splash $961 million in BTC around the coin’s 30-day all-time low price region.
Interestingly, Bitcoin’s transient staging of price levels below the $60,000 price mark attested to the traders’ shrewd dealings and wealth of experience in trading cryptocurrencies amid price declines.
On the other hand, while the investor in this insight has proven to stand out from every other trader in the crypto space, cryptocurrency dumpings, including Bitcoin, remain the trend among market participants, even among sovereign nations.
Germany Government Intensifies Bitcoin Transfers To Exchanges
For the past few weeks, Germany, through its government, has been moving a reasonable percentage of the nation’s Bitcoin holdings to crypto exchanges as part of an ongoing crypto assets management plan.
While the decision by the German government might have stemmed from properly analyzed economic reasons, the impacts across the global crypto market have undoubtedly not gone unnoticed, evidenced by BTC’s steady price drops.
Notedly, the most recent transfer saw about 400 BTC, estimated to be worth approximately $24,279,359, moved to crypto exchanges Coinbase and Kraken. Unlike the anonymous trader, the German government’s latest transfer happened today at 05:03:56 GMT+10.
Applying a similar principle as the one highlighted earlier to obtain the individual prices at which the European nation government dumped their BTC holdings, we discovered that they sold for roughly $60,700
Meanwhile, before its most recent dumping, the German government has previously dumped about 1,700 BTC, totaling almost $110 million, on three different occasions and across three exchanges, Coinbase, Bitstamp, and Kraken.
🇩🇪 German Government just transferred 400 #Bitcoin to Coinbase & Kraken Exchanges
Germany still holds 47,000 #Bitcoin ($2.8 Billion) pic.twitter.com/9qCvc9eg8J
— Thomas | heyapollo.com (@thomas_fahrer) June 25, 2024
Despite its massive sell-offs, Germany still boasts 47,000 Bitcoin stores, estimated to cost around $2.8 billion. Hence, chances are high about the propensity of more sales with more negative impacts on BTC’s price.
Learn More
- Enjin Coin Price Prediction – $1 A Realistic Target If $0.2057 Resistance Is Broken
- Best Crypto Exchanges in 2024
Advertisement
