Why does this round of the bull market feel like Bitcoin is rising so slowly? Well-known on-chain analyst Willy Woo provided his explanation: because those ancient whales who bought in 2011 at a cost of less than $10 are continuously selling off.

He pointed out that for every Bitcoin sold by these whales, the market needs more than $110,000 in new funds. This enormous cost difference means the market needs to digest a huge amount of profits, which slows down the pace of the rise.

This viewpoint perfectly explains the recent market dynamics, especially in relation to the news today about a certain OG whale significantly selling off BTC to switch to ETH. Bitcoin is experiencing "growing pains" until these ten-thousandfold return chips are fully exchanged in the market.