!! What Would Happen if Satoshi Nakamoto Sold All his $BTC ?

What would happen if #Satoshi nakamoto sold 1100000 Bitcoins.... at what price would the cryptocurrency fall? (That was the question I asked the AI)

Impact of the Sale of 1,000,100 Bitcoins

If Satoshi Nakamoto decided to sell 1,000,100 Bitcoins, this would represent a significant amount, given that the total supply of Bitcoin is 21 million. This massive sale could have several effects:

Increase in Supply: The sudden availability of a large amount of Bitcoin in the market would increase supply, which could lead to a decrease in price due to selling pressure.

Market Reaction: Traders could react adversely, anticipating a drop in price, which could accelerate selling and increase volatility.

Support and Resistance Levels: Current support levels could be broken, leading the price to seek new, lower equilibrium levels.

Price Estimate

It is difficult to predict accurately at what price Bitcoin would fall without a detailed analysis of market depth and liquidity on each exchange. However, a sale of this magnitude could potentially reduce the price of Bitcoin by 20-30% or more, depending on market reaction and absorption of the additional supply.

Current Bitcoin Price

The current price of Bitcoin is approximately $95,428.88 USD

Retracement Calculation

If the price of Bitcoin retraces between 20% and 30%, we can calculate the new prices.

20% Retracement: 76,343.10 USD

30% Retracement: 66,800.22 USD

Market Impact

The sale of 1,100,000 Bitcoins could lead the price to fall within this range, depending on market liquidity and trader reactions. It is important to note that these calculations are approximate and the actual impact could vary due to additional factors such as market depth and investor psychology.

Comment, would it drop more or less?