Bitcoin: Sales by Whales and Institutional Demand in Equilibrium, Reports Indicate

Whales, or major holders of the cryptocurrency Bitcoin (BTC), have sold over 500,000 BTC (worth over 8 trillion yen) in the past year.

This amount is roughly equivalent to the net inflows into U.S. Bitcoin ETFs (Exchange-Traded Funds), and this balance of selling and buying has kept Bitcoin prices stuck around the all-time high of $110,000, as reported by Bloomberg on the 4th.

Related: Slowdown in ETF purchases may cast a shadow over Bitcoin price rise, while ETH sees record high accumulations, according to Cryptoquant analysis

Some analysts suggest that these developments could influence the value of Bitcoin...