Bitcoin Whales Do $2.2 Billion Selloff, But BTC Stays Strong
Summary
Bitcoin whales have sold $2.2 billion worth of BTC in the past week, with around 50,000 BTC distributed. Despite this, Bitcoin's price has remained strong, currently trading at around $43,500, up 3% in the past week. The selling occurred as BTC was trading at recent lows, indicating panic selling by whales. On-chain data also suggests that whales are continuing to make moves towards selling, as indicated by spikes in the "exchange inflow mean" metric.
