The actions of OG whales, who bought Bitcoin at around 10 USD in 2011, have led to a decrease in Bitcoin’s price by over 2% recently. Willy Woo states that it takes more than 110,000 USD in new investments to absorb the selling pressure created by these large holders.
A substantial sell-off by an OG whale contributed to a sudden drop in Bitcoin from approximately 114,666 USD to a low of 112,174 USD within minutes. This resulted in a significant decrease in Bitcoin’s market cap by 45 billion USD.
Recent trading by another Bitcoin whale, who sold 670 BTC for Ethereum, indicates a trend among investors shifting their focus from Bitcoin to Ethereum. This echoes a broader movement within the market as whales reassess their asset allocations.
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