Bitcoin Sharks and Whales Sell Off $2.2 Billion Worth of Bitcoin
Big Bitcoin players sell $2.2B as price holds at $37k - market watches.
Big Bitcoin investors, known as 'sharks' and 'whales', have been selling a lot of their Bitcoin, about $2.2 billion worth just last week. Sharks are wallets holding between 100 and 1,000 BTC, and whales have between 1,000 and 10,000 BTC. Their actions are important because they own so much Bitcoin, they can really affect the market.
A chart tracking these big Bitcoin holders shows a sharp decrease in their Bitcoin amounts. They sold around 60,000 BTC recently. This big sale happened as Bitcoin's price went over $37,000. It looks like these big holders sold to take profits from the price increase.
Despite this big sale, Bitcoin's price has stayed around $37,000. It dipped a bit when the selling started but quickly recovered. However, without support from sharks and whales, Bitcoin might not be able to increase much more. The last time it reached this price level was also when these big investors bought a lot of Bitcoin.
Current Bitcoin Market
As of now, Bitcoin is sticking to the $37,000 zone. The big question is whether it can keep steady or even go higher without the big investors buying again.
