This whale has experienced a mammoth growth on his initial Bitcoin investment, made when the shadow of the mysterious BTC creator Satoshi Nakamoto still hung over the crypto community.
Over the past month, the aforementioned data source has shared that at least a dozen Bitcoin whales had brought their previously dormant BTC wallets back from dormancy. Each of them showed massive percentage gains in profits.
As for the rest of the ETF cohort, Fidelity, Grayscale and VanEck faced outflows of $7.6 million, $34.2 million and $4.9 million on Sept. 4.
The rest of the Bitcoin ETFs, including BlackRock’s IBIT, the largest spot BTC fund, have seen zero inflows and outflows. Overall, the ETFs lost $37 million worth of Bitcoin on Wednesday.
These ETFs seeing big Bitcoin outflows for a week already have been contributing to the overall bearish impact on the market recently. Besides, yesterday, Bitcoin’s 5.37% price crash was also impacted by the staggering sell-off in the U.S. stock market, with approximately $1 trillion worth of stocks sold.
According to financial commentator Jim Cramer, that sell-off targeted AI/data center/computing companies and also those dealing in the housing and oil businesses. That coincided with the U.S. Department of Justice issuing a subpoena against the Nvidia (NASDAQ:NVDA) behemoth and several other chip-making companies, suspecting them of violating antitrust laws.
This article was originally published on U.Today
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