The cryptocurrency markets have lately been undergoing unpredictable upheavals. The markets, otherwise known to be volatility-prone, are showing their usual course of ebb and flow. However, the recent Bitcoin crash has turned the usual market course upside down. Bitcoin fell $110K dramatically after a whale dumped nearly 24000 BTC, causing the markets to correct themselves organically.

Also Read: The Philippines Proposes Strategic Bitcoin Reserve to Tackle Debt

Bitcoin Crashes to $110K: Here’s What Happened.

Source: NASDAQ

Occasionally, there are instances that even the markets cannot predict in the long run. These instances are never planned and are as organic as they come, but end up changing the market course from time to time. In one such instance, a noteworthy BTC whale ended up dumping nearly 24000 BTC tokens, causing the markets to experience volatility at their best. This massive token dump led the markets to witness a sharp correction, with Bitcoin falling back to $110K. At press time, the token has regained some of its value, sitting at $112 at press time.

Ethereum, on the other hand, has also plunged, compelled to change its price pace, as the token was about to move towards the $5K mark. The token is sitting at $4716 at press time after hitting a new ATH of $4900 before the whale incident took hold of the market dynamics. As per notable crypto analyst Jacob King, the whale had reportedly dumped BTC for Ethereum, dumping coins that have not been moved in about five years.

“JUST IN: The #Bitcoin flash crash today. Which wiped out $310M in long positions, has been traced to a SINGLE Bitcoin whale dumping BTC for ETH. The whale sold 24,000+ BTC, including coins that hadn’t moved in 5+ years, sending 12,000+ #BTC today alone to the Hyperunite trading platform. They’ve sold 18,000+ BTC ($2B) so far and are in the process of dumping the remaining 6,000+ BTC ($670M). Most of the money is being moved into Ethereum; $2B was bought and $1.3B was staked.”

What’s Next for the Asset?

As per CoinCodex BTC data, Bitcoin is still willing to explore the green lines, wanting to explore the slightly corrected price of $120K by September 2025.

BTC PRICE STATS
Source: CoinCodex

“According to our current Bitcoin price prediction. The price of Bitcoin may rise by 7.05% and reach $120,739 by September 23, 2025. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 53 (neutral). Bitcoin recorded 14/30 (47%) green days with 1.87% price volatility over the last 30 days. Based on the Bitcoin forecast, it’s now a good time to buy Bitcoin.”

Also Read: BlackRock ETF Flips Coinbase as Top BTC Holder With 781K Bitcoin

  • bitcoin
  • btc
  • btc price prediction