Bitcoin

Impact

<p>The post <a href="https://coinpedia.org/news/bitcoin-long-term-holder-sell-1-2b-in-two-weeks-as-etf-netflows-turn-negative/">Bitcoin Long-Term Holder Sell $1.2B in Two Weeks as ETF Netflows Turn Negative</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin’s price has faced considerable selling pressure, plunging to approximately $65,000. Recent data from CryptoQuant revealed that the Bitcoin market has witnessed significant activity, with long-term holder whales offloading $1.2 billion worth of Bitcoin in the past two weeks.&nbsp;</p> 
<p>Notably, this massive sell-off aligns with negative netflows observed in Bitcoin ETFs over the same timeframe.</p> 
<h2 class="wp-block-heading" id="h-major-sell-off-by-long-term-whales">Major Sell-Off by Long-Term Whales</h2> 
<p>According to Ki Young Ju, CEO of CryptoQuant, Bitcoin long-term holder whales have sold $1.2 billion worth of Bitcoin in the last two weeks, likely through brokers. These whales, who typically hold their assets for extended periods, are significant players in the market.&nbsp;&nbsp;</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> long-term holder whales sold $1.2B in the past 2 weeks, likely through brokers. <br><br>ETF netflows are negative with $460M outflows in the same period. <br><br>If this ~$1.6B in sell-side liquidity isn't bought OTC, brokers may deposit <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to exchanges, impacting the market. <a href="https://t.co/oYeKsRqKeF">pic.twitter.com/oYeKsRqKeF</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1803137868254343450?ref_src=twsrc%5Etfw">June 18, 2024</a>
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<p>In addition to the whale sell-off, <a href="https://coinpedia.org/news/us-bitcoin-etfs-witness-4th-day-of-outflows-of-152m-fidelity-grayscale-leading/" target="_blank" rel="noreferrer noopener">Bitcoin ETFs have experienced</a> $460 million in outflows over the same period. Negative net flows in ETFs suggest that more investors are pulling their money out of these financial products than putting in.&nbsp;</p> 
<p>This trend in ETFs further underscores the current bearish sentiment in the market, as investors seem to be pulling out funds rather than investing more.</p> 
<h2 class="wp-block-heading" id="h-potential-market-impact">Potential Market Impact</h2> 
<p>The combined sell-side liquidity of approximately $1.6 billion could have a substantial <a href="https://coinpedia.org/news/ethereum-etf-poised-to-steal-20-of-bitcoin-etfs-money-flow-heres-why/" target="_blank" rel="noreferrer noopener">impact on the Bitcoin market</a>. If this liquidity isn’t absorbed over-the-counter (OTC), brokers might deposit the Bitcoin onto exchanges.&nbsp;</p> 
<p>Such a move would increase the supply of Bitcoin on exchanges, potentially leading to a drop in its price due to the heightened selling pressure.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-price-action">Bitcoin Price Action</h2> 
<p>Over the last two weeks, <a href="https://coinpedia.org/news/heres-a-list-of-discounted-altcoins-with-massive-potential/">Bitcoin prices </a>have dropped from $71,000 to around $64,850. This decline is attributed to factors like a stronger dollar, investors moving away from riskier assets, and growth in traditional stock indices. Some analysts even predict that Bitcoin could fall further to around $60,000.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/major-crypto-scam-the-rise-of-pig-butchering-schemes/">SHOCKING: Crypto “Pig Butchering” Scams on the Rise! What You Should Know</a></p>

Bitcoin Long-Term Holder Sell $1.2B in Two Weeks as ETF Netflows Turn Negative

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