Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing?

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Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? - NewsBTC

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ETF netflows are negative with $460M outflows in the same period.If this ~$1.6B in sell-side liquidity isn’t bought OTC, brokers may deposit $BTC to exchanges, impacting the market.pic.twitter.com/oYeKsRqKeF — Ki Young Ju (@ki_young_ju) June 18, 2024 With the booming artificial intelligence (AI) sector offering a potentially more lucrative goldmine, miners might be cashing out their crypto rewards to invest in the future of computing.

One theory suggests a shift in priorities for miners, the brawny machines that secure the Bitcoin network and earn rewards in the form of new coins.#Bitcoin long-term holder whales sold $1.2B in the past 2 weeks, likely through brokers.

Related Reading: Analyst’s Bullish Call: Bitcoin Primed For Massive Jump To $127,000 Where The Whales Go, The Market May Follow The reasons for this sudden sell-off remain murky, but analysts point to a confluence of factors.