Bitcoin whale wallets keep selling, mounting pressure on BTCs price trajectory
Bitcoin whale wallets have reportedly transferred over $100 million in Bitcoin to exchanges over the last 24 hours. The trend is a clear signal of intentions to cash out, adding further pressure to Bitcoins price trajectory. Just as Bitcoin was trying to find its bottom after losing over 20% of its value in June, on-chain data shows further signs of selling. Wallets tied to Irish drug dealer Cliffton Collins, Riot Platforms, a major Bitcoin mining firm, and other whale wallets have all sent significant amounts to exchanges, in preparation to sell. Bitcoin whale sell-off pattern is forming A wallet linked to prominent Bitcoin bull and venture capitalist Tim Draper moved 150.84 $BTC to Coinbase, realizing a loss of approximately $2.57 million after holding the coins for roughly a year. Tim Draper has been bullish on $BTC, calling for $250,000 targets in the past, which is a clear signal of current market sentiment. Bitcoin started July at its lowest level in 21 months, briefly touching $57,950, after investors pulled a record $4.51 billion out of US spot Bitcoin ETFs in June alone. Bitcoins exchange whale ratio, which measures the size of the largest inflows relative to total exchange inflows, has also reached a local









