Bitcoin Whales Sell $2 Billion; Market Crash Ahead

[Whales sold over $2 billion in Bitcoin in one week; will there be a crash? 】Amid a boom in the cryptocurrency market and rising prices for digital assets, some large Bitcoin holders, known as whales, have recently raised eyebrows in the market by selling around 50,000 BTC worth about $2.2 billion.Cryptocurrency analyst Ali Martinez posted on X on December 22 that the move could be for profit-taking purposes. Given Bitcoin’s sharp rise in price in recent weeks, some long-term holders have chosen to realize profits at this point.According to BTC’s profitable supply data, around 89% of Bitcoin holders are currently in the black, which could be a sign of whale selling action at the end of the year. Santiment’s post on December 21 shows that when this indicator is in the 40-70% range, it is generally more favorable for further price increases.Over the past year, Bitcoin price has grown by 159%, outperforming 72% of the top 100 cryptocurrencies.Additionally, Bitcoin is currently trading above its 200-day simple moving average, which is viewed as a positive indicator in technical analysis. The asset has seen positive price movement on 18 of the past 30 days, accounting for 60% of the observation periods.

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