Whales continue to sell Bitcoin after peak price, with holdings down 40% in eight years

Since the price of Bitcoin hit a new all-time high, whales have been realizing profits on an ongoing basis, which is a step towards the massive decline that has continued for the past eight years despite the recent price increase.
This suggests that the selling trend of Bitcoin is continuing. On the 4th (local time), cryptocurrency analyst Willy Woo
On the 3rd, Woo revealed in an article posted on X that "large whales holding more than 10,000 BTC have already started selling since 2017."
"Now, with institutions and nation states buying billions of dollars of Bitcoin, the question is who is selling this volume? They are," he said. "Many of these whales are
"I am liquidating the amount I held for 8-16 years after purchasing between $0 and $700," he explained. According to a chart shared by Willy Woo, the lottery winners who hold between 10,000 and 100,000 BTC are
The total number of addresses holding Bitcoin has fallen by about 40% over the past eight years, from about 2.7 million to 1.6 million. "In the short term, I think buying Bitcoin when it's in the six figures (over $100,000) is not going to happen," he said.
"It may not seem rational, but within the next decade, Bitcoin could be the best investment of your life," he added.
On-chain analytics platform Glassnode also announced on the 3rd that Bitcoin will hit $112,000 on May 22nd.
The report said that a strong trend of profit realization was detected immediately after the all-time high was reached, and that the average Bitcoin traded at that time realized an average profit of 16%.
Glassnode said, "Only about 8% of Bitcoin's total trading days have recorded higher returns, suggesting that we are currently in a period of strong profit realization.
" He added that selling pressure was concentrated on June 3, when hourly realized profits exceeded $500 million three times in one day.
Meanwhile, the price of Bitcoin has fallen 5.5% since hitting its May high, hitting $105,000 on June 3.
It then corrected, but rebounded again to the $106,800 level, but has now fallen back to the $105,400 level again.