Large institutions sold $5.5B in BTC since May
Since May 10, as much as 236,237 Bitcoin (BTC), worth $5.452 billion, has been sold by large institutions. Despite the crypto markets seeing tremendous sell pressure from institutions in recent months, the Bitcoin market remains remarkably resilient.
Trading volumes have also remained higher through the 2022 market downturn compared to the peak of the 2017 bull market. On December 17, 2017, Bitcoin’s daily trading volume reached a cycle peak of $12 billion, while daily volume in July 2022 has been above $20 billion.