Bitcoin’s Slow Rise Linked to ‘Whale’ Sales as $45B Plunge Fuels Speculation

Recent market trends suggest a slow price movement in Bitcoin, potentially fueled by a large-scale rotation from Bitcoin into Ether by one prominent whale. Analyst Willy Woo, known for his insights on the cryptocurrency markets, points to long-term Bitcoin holders with concentrated investments since 2011 as driving this phenomenon. These investors, who acquired their Bitcoin at low prices, now require significant capital injection to absorb their sales. This ongoing dynamic has contributed to a substantial $45 billion market capitalization drop, raising concerns about the cryptocurrency’s short-term stability.