BEARISH 📉 : Corporate investors sell Bitcoin, causing market decline

The price of Bitcoin has dropped by around 50% over the past six months, falling below $64,000. This decline is attributed to large investors selling off their holdings.

Corporate Holders Selling Bitcoin

  • Corporate holders have been dumping Bitcoin for the last few weeks with no buying activity recorded.
  • This recent sell-off marks the longest selling streak since corporate investments in Bitcoin began in 2020.
  • Accumulation trends that previously drove Bitcoin to all-time highs appear to have ended.

Bitcoin sell-offs

Data from CoinShares shows:

  • Bitcoin lost $215.3 million to outflows from digital asset funds in just the past week.
  • Ethereum experienced outflows of $36.5 million.
  • Multi-asset funds saw $32.5 million in outflows.
  • Despite poor market performance, XRP and Solana are seeing inflows.

This trend indicates a shift by corporate investors towards altcoins for potentially higher profit margins compared to Bitcoin. The ongoing increase in supply could lead to further declines in Bitcoin's price until buying activity resumes.

Bitcoin price chart from Tradingview.com