Market shock!
A sudden storm swept the cryptocurrency market! BTC worth up to 4.1 billion units of U was sold off crazily in a very short period of time, directly causing the BTC price to plummet by 9%!
Ali Martinez, a well-known cryptocurrency analyst, revealed on the authoritative platform X that the main culprits behind this sell-off were whales and miners.
It is reported that these whales sold more than 50,000 BTC in just 10 days, with a total value of an astonishing 3.3 billion U. At the same time, miners were not to be outdone and sold more than 1,200 BTC, worth nearly 80 million U.
This sell-off swept the market like a hurricane, causing the BTC price to plummet from a high of $71,655 to $65,228 in just one week. Although there was a slight rebound later, the market is still in a state of tension.
Many veteran BTC holders are actively selling their Bitcoin. What is more worrying is that the sales of dormant BTC have also been increasing recently.
The amount of Bitcoin in the hands of these dormant BTC holders is so huge that it even exceeds the total of all spot Bitcoin ETFs! This discovery undoubtedly adds more uncertainty to the market.
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