The ability of the US government to sell 2 billion USD worth of Bitcoin aligns with the trend of many investors cashing out. At the end of November, according to data from market analysis company Glassnode, short-term holders (holding for less than 155 days) sent 83,000 BTC (equivalent to about 7.8 billion USD) to exchanges. This is the highest figure ever recorded. The continuous trend of investors rushing to take profits each day, theoretically, indicates that the market is unlikely to reach new highs.
However, "whale" investors, those holding balances of 100-1,000 BTC, are still betting on a bullish market. According to Glassnode, this group accumulated over 140,000 units in November. Many experts also believe that the recent decline was a shakeout before Bitcoin surpasses 100,000 USD to reach a new peak, possibly up to 147,000 USD.
