Old Whales Are Affecting the Market! Is Bitcoin's Future in Danger?

Many digital assets, including #Bitcoin (BTC), have gained value and delighted investors. Bitcoin has begun to recover from last week's losses. However, despite this rise in the market, we see that the selling pressure has not completely disappeared. CryptoQuant CEO Ki Young Ju shared interesting details about the source of these sales in the market.

According to Ki Young Ju, old Bitcoin whales are behind the current selling pressure. These whales usually make their sales through high-volume OTC (over-the-counter) transactions and investments in exchanges. However, according to the CEO, these sales will not be enough to disrupt the general trend of the market for now.

Ju also stated that the US is still the largest source of Bitcoin purchases. However, he noted that the daily premium on the Coinbase Exchange has fallen to its lowest levels in the last two years.

Despite the mixed movements of Bitcoin whales, $BTC still keeps the pulse of the market. However, some analysts believe that altcoins could also make a big breakout this year. With Bitcoin's recovery, altcoins such as $BNB , Solana and XRP have increased.

$XRP , in particular, has surpassed Tether to become the third largest cryptocurrency by market value. This development shows that a major wind of change is blowing in the market. With this rise, analysts predict that Bitcoin's market dominance may begin to decrease in the coming weeks.

Despite the rise in Bitcoin prices, investors are cautious ahead of Donald Trump's inauguration. Whether Trump's campaign promise to turn Bitcoin into a strategic reserve will be realized is a matter of curiosity. Ki Young Ju stated that this goal could be a difficult process due to the complexity surrounding the US Dollar.