Revealing the Reasons Behind Bitcoin's Recent Weakness: Is the Bottoming Opportunity Approaching?
Recently, Bitcoin's performance has been sluggish, primarily due to a massive sell-off by what is referred to as the '80,000 BTC Ancient Whale.' Since July 15, the whale has been transferring BTC to Galaxy Digital for entrusted sale, resulting in a large influx of Bitcoin into various exchange addresses.
However, the good news is that on-chain data indicates that the selling pressure from the whale is nearing its end, with only about 12,000 BTC remaining unsold. Given the current market liquidity, it should not be too difficult to absorb this selling pressure.
For investors, it may be worthwhile to consider gradually seeking suitable positions to accumulate spot purchases. Once the timing is right, we will promptly position ourselves in potential altcoins, with the prospect of achieving substantial returns of up to 1000%. Please stay tuned!
