Bitcoin Whales Sell 50,000 BTC Worth $2.2 Billion, Is The Rally Over?
Summary
Bitcoin's rally may be cooling off as whales sell 50,000 BTC, sparking concerns. However, institutional outflows are likely profit-taking, not sentiment swings. Despite this, non-zero Bitcoin addresses are increasing, indicating growing investor interest. Matrixport predicts BTC to surpass $50,000 by January 2024, driven by potential SEC approval of Spot Bitcoin ETF applications and historical patterns. The current trading price is around $43,600.
