A number of high-net-worth crypto investors known as whales are moving hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH), and XRP as the broader crypto market continues to show signs of weakness.
BTC appears to be dictating the bearish momentum as the largest cryptocurrency plunged as low as $9,916 in the last 24 hours according to CoinMarketCap . Ethereum followed suit, with the second-largest cryptocurrency falling to a low of $326 over the same stretch. Meanwhile, XRP dropped to a low of $0.23.
A surging number of crypto whales are coming out of hibernation amid the bearish price action. One whale, in particular, moved 3,001 BTC worth $30.4 million from crypto exchange OKEx to an unknown wallet.