- The crypto market saw a downturn, with Bitcoin falling 2.26% and XRP losing over 8%.
- Bitcoin dropped below $100,000 but is still up 28.52% on the monthly charts.
- A whale moved nearly $200 million worth of Bitcoin from Binance, indicating long-term holding.
The crypto market started off the week on a down note, with Bitcoin falling about 2.26% over the past 24 hours. In fact, all the top 10 cryptocurrencies by market capitalization began this Monday on a retraction. Notably, XRP has proven the most volatile asset of the bunch, losing over 8% of its value during the same time frame.
At this time of writing Bitcoin trades at $97,775, with a market capitalization of $1.93 trillion. The currency lost its $100,000 margin on Sunday morning, which prompted a decrease of over 5% until right now.
However, this correction has not reversed into a month-long downward trend. Bitcoin is still up by 28.52% on the monthly charts, and there is anticipation that the currency may continue its forward momentum in 2025.
In fact, big-time investors also known as ‘crypto whales’ are also betting that the currency will continue to grow in the shortcoming future. A recent report from crypto analysis platform LookOnChain reveals that an anonymous investor just moved nearly $200 million worth of BTC away from the cryptocurrency exchange Binance.
When investors move large sums of crypto away from exchanges it generally means that they plan on holding onto their wallets in a safer environment like a cold wallet. Perhaps this particular investor looked to buy Bitcoin’s recent dip this morning, planning on making major profits later down the line when the asset recovers past the $100,000 milestone.
