Gate News reports that on March 19, a Bitcoin whale inactive since 2013 recently sold 3,500 BTC, worth approximately $442 million, causing a bearish sentiment in the cryptocurrency market. The sale is part of a larger capital movement, with 44,459 BTC (about $3.15 billion) flowing into exchanges in a single day. The market is responding to this supply shock, with Bitcoin currently trading around $69,500, down from recent highs. The sale coincides with macroeconomic factors, as the Federal Reserve maintains interest rates between 3.50% and 3.75%. Analysts suggest Bitcoin may test the $64,000 support level, with $60,000 being a key bottom. Meanwhile, funds are shifting toward infrastructure projects like Bitcoin Hyper, which integrates the Solana Virtual Machine, offering high-speed smart contracts and attracting significant investment during its pre-sale.
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