According to the bitcoiner, Willy Woo, the oldest whales of #Bitcoin could be responsible for the slow price action of the cryptocurrency in this cycle. Woo points out that now more than $110,000 of new capital is needed to absorb each Bitcoin they sell.

A whale moved over $2 billion in Bitcoin to ETH during the last week, triggering a cascade of sell orders across the market. Yesterday's sudden drop caused Bitcoin to fall nearly 2.2% from $114,000 to $112,000 in nine minutes.