Summary
- Analyst Jacob King reported that Bitcoin (BTC) whales are selling in anticipation of a bear market.
- He noted that super whales began selling last September, with the pace of selling accelerating over the past two weeks.
- This selling pressure has temporarily caused BTC prices to decline.
Jacob King, an analyst from the cryptocurrency newsletter WhaleWire, stated on the 8th (local time) via X (formerly Twitter) that "Bitcoin (BTC) whales are quietly selling as the bear market approaches," adding that "super whales started selling last September, and the pace has accelerated over the past two weeks."
He further added, "Regular whales are also gradually increasing their selling volume."
Jacob King is well-known as a Bitcoin skeptic who has consistently argued that 'Bitcoin is useless.'
Meanwhile, BTC is trading at $94,639.39, down 2.19% from the previous day, in the Binance Tether (USDT) market as of 04:25 on the 9th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
