Bitcoin whales sold around $12.7 billion of Bitcoin last month, pressuring prices and “signaling intense risk aversion among large investors.”
Bitcoin whales have sold a whopping $12.7 billion in Bitcoin over the past month, and continued sales could further pressure its price for the next few weeks, according to analysts.
“The trend of reducing exposure by major Bitcoin network players continues to intensify, reaching the largest coin distribution this year,” observed CryptoQuant analyst “caueconomy” on Friday.
They added that in the last 30 days, whale reserves have fallen by more than 100,000 Bitcoin (BTC), “signaling intense risk aversion among large investors.”
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