In the grand drama of Bitcoin, our dear friend Ki Young Ju, the analyst and founder of CryptoQuant, has shared a most intriguing on-chain insight. A jesting tale of Bitcoin whales and their market action over the past few years!
Old Whales’ Lament: Bitcoin Rises Despite Our Dumping!
As our tale unfolds, Bitcoin whales have sold a staggering $142 billion worth of BTC since 2023! Oh, the agony of these whales, as they commenced their steady dumping action when Bitcoin’s price was around $20,000.
With the price of BTC now at about $97,000, traders have flooded the market with their BTC. A rough estimate suggests that over 2.5 million Bitcoin could have been purchased with the $142 billion!
But alas, their massive sell-offs have not prevented Bitcoin from increasing in value! The market has absorbed the selling pressure, and the coin’s realized profit has grown!
Old Whales:
man… we dumped $142B worth of #Bitcoin since 2023, but it just keeps going up… sorry bears. we tried.
— Ki Young Ju (@ki_young_ju) February 11, 2025
Our forlorn whales lament, “It just keeps going up… sorry, bears, we tried.” Indeed, their attempts to push Bitcoin prices down have failed!
Bitcoin, Onward to $1 Million?
Brave and unyielding, Bitcoin has maintained its leading position in the digital currency space! Soaring to breach $100,000 and hitting an all-time high of $109,114.88!
Will Bitcoin reach the epic prediction mark of $1,000,000? Only time will tell!
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2025-02-11 18:47