Bitcoin's ‘big whales’ continue sell-off after all-time high
Large Bitcoin holders, or "whales," have been consistently taking profits after Bitcoin reached a new peak of nearly $112,000 on May 22. Analysts note that these whales, holding over 10,000 BTC, have been selling since 2017, with their holdings declining by about 40% from 2.7 million to 1.6 million BTC over eight years. Most of these coins were acquired between $0 and $700 and held for 8 to 16 years. Despite the current high prices, analysts suggest that Bitcoin may be a strong long-term investment. On June 3, profit-taking activity surged, with average profits reaching 16% and realized profits exceeding $500 million per hour. Bitcoin's price retraced to $105,000 on June 3 before fluctuating around that level, maintaining a record of staying above six figures for 27 days.
