👀👀Who's Selling Bitcoin: Cowardly Whales Suffered Their Biggest Losses in the Last 3 Years! 👀👀

Julio Moreno, one of the experienced analysts of the cryptocurrency market, revealed the group behind the recent sell-off in Bitcoin (BTC).

Moreno, CryptoQuant's Research Manager, stated in his post dated August 7 that Bitcoin sales were carried out by new whales. Moreno emphasized that old whales did not sell significantly during this process.

He stated that new whales suffered their biggest losses since May 2021 as a result of the price drops on August 5 and the transaction reactions brought by this situation. Moreno stated that these losses caused short-term fluctuations in the Bitcoin market.

Such sales can lead to sudden drops in the price of Bitcoin and negatively affect general market sentiment. However, in the long term, Bitcoin's strong fundamentals and the stability of old whales in the market help overcome these fluctuations.

Bitcoin, which has increased by 1% in the last 24 hours, is currently trading at $57,200.

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