While many Bitcoin whales “woke up” last month to sell their BTC to Big Profits because it rallied for more than $ 122,000, the analysts said it was a good sign of a mattress market and did not hurt the value of Bitcoin.
In an X post on Wednesday, the Bitcoin financial service company swan bitcoin Says The biggest twist in bitcoin (Btc) History is almost complete because the “old guard has been replaced by new titans with beliefs,” such as corporations and Treasury companies.
Earlier in the moon, a whale from the Satoshi period Already uploaded their entire clamp that 80,201 bitcoincosts $ 9.6 billion, in many transactions.
At one point, during the shift, the price sank 4% while the sale was “dug,” but it didn’t last long, According to to Bitcoin researcher Vijay Boyapati.
Meanwhile, the market analytics firm of the market has agreed that the recent Bitcoin sale is derived The new whales that realized the gainswhich causes bitcoin’s failure to hold above the $ 120,000 mark.
Crypto analyst Willy Woo said in June that whales with more than 10,000 Bitcoin has been selling since 2017, in response to a question about who sells amid higher interest from institutions.
Whale sales are good for bitcoin, says hedge fund co-founder
Talking to Cointelegraph, ZX Squared Capital Co-Founder and Chief Investment Officer CK Zheng said the whales that selled were not negative, as new buyers were jumping, showing a “healthy dynamic of a new bull market.”
Crypto Data Research Platform Santiment Says It was Thursday Dompet with between 10 and 10,000 Bitcoin Buy another 218,570 coins since late March, adding 0.9% of all coins to their purse at this time.
Bitcoin entities hold about half a trillion in BTC
Zheng said institutional players entering the space as an OGS exit are the “natural evolution of the system” and create a form of adoption.
Crypto treasures, in particular, have been proven Famous for companies trying to get exposure to bitcoin.
There are 219 creatures that combine 3.6 million bitcoin, which costs more than $ 419 billion, According to In the Bitbo Data. This includes funds exchanged by exchanges, countries, public and private companies, Bitcoin and Defi mining companies.
“I think because now you have a corporate treasury, the Bitcoin Treasury, which kind of institutional adherence, and then the ETF market, they play a different kind of dynamic -new, more than the Wall Street machine,” Zheng said.
“It has become a variety of kinds of condemnation -following the future evolution of the Bitcoin process; it is a healthy way (…) for future growth.”
However, in the near future, Zheng said the volatility of Bitcoin prices would likely continue until Bitcoin became “truly digital gold,” which could take some more revolving rounds.
Bitcoin Whale exit shows maturity on the market
Ryan McMillin, Chief Investment Officer of the Australian Crypto Investment Manager Merkle Tree Capital, told Cointelegraph that Satoshi -ra Bitcoin The movements represent a slow but clear trend in Bitcoin’s financial financial.
“The transition of Bitcoin from these old wallets, early adopters, cypherpunks and libertarian techies, institutions and ETFs is a sign of market maturity and financial system integration,” he said.
This is the same as when Gold got the first products exchanged by the exchange in early 2000 and the yellow metal rallied for a decade, from around $ 350 an ounce around $ 2,000 an ounce, according to McMillin.
“The same process should be expected for Bitcoin, as institutions such as pension funds inevitably get exposure to set an asset allocation, earn income as it increases and adding to positions when it falls, reducing the volatility of that owner and making it more investing more conservative investors such as insurance companies.”
Whales may be looking to vary -I
OG Bitcoin Whale Sales can also be part of a plan to diversify handling of other potential areas with high growth such as artificial intelligence, according to Zheng.
Related: Bitcoin ‘tick tock’ fractal predicts $ 150k BTC above in October
He said this is a sign of a healthy market because, in general, assets that change hands do not change their value.
“It’s no different than if you buy a owner. You may be the original with -owner, but after 10 years or 20 years, if the price is appreciated a lot or changes your situation, you may want to change,” Zheng said.
“You may want to sell your ownership, get the income and invest somewhere else, and a new buyer has purchased your owner. This does not really change the dynamic -change of value of your owner.”
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