Bitcoin whales are selling over $1,5 billion in BTC as prices rise

The Bitcoin (BTC) price has seen a rise over the past few weeks. The value of the biggest cryptocurrency jumped across the important $50.000 price level a week ago, creating excitement in the crypto market. However, a popular analyst on social media foresees a downturn in the BTC price as whales are selling billions worth of coins. 

For the past seven days the bitcoin value has been navigating relatively horizontally. The price varies between $51,000 and around $52,800. Frustrating investors as the coin saw a significant price surge in the weeks before. Still the cryptocurrency has had a very positive month, increasing almost 27% in value in the last 30 days. 

30,000 BTC tokens sold by investors

Analyst Ali Martinez shares the whales BTC balance on social media platform X. From his analysis it is clear over 30,000 coins have been sold since the start of the week by large accounts. On 18th of February the whale addresses owned around 4,94 million bitcoins, 48 hours later and this amount reduced to 4,91 million.

In total these coins are worth over $1.53 billion. The whales considered are addresses that own a minimum of 1,000 and up to 10,000 BTC. Meaning these wealthy bitcoin holders own between $50 to $50 million of the popular coin. 

Historic signal for BTC price fall 

The selling of whales signals a potential downturn, as history has often shown. Since these wealthy addresses own a lot of tokens their influence on the bitcoin price is significant. Noteably, the increase in selling pressure arose around the $52.000 – $52.500 price level, suggesting significant resistance here. 

Michael Saylor adamant on Bitcoin Strategy

The CEO of MicroStrategy and renowned Bitcoin fanatic, Michael Saylor, has stated he will forever buy and hold the largest cryptocurrency. According to Saylor there is no reason to sell the loser, as said in an interview with Bloomberg TV. His American software company has already bought billions worth of BTC as they currently hold around 190.000 tokens worth close to $10 billion. 

The strategy of the CEO seems to pay off. Currently MicroStrategy has an average cost per coin of around $31,200, resulting in a massive profit of $4 billion. With the profits increasing investors are calling for Saylor to take profits. However, the popular CEO is clearly not considering selling any BTC soon. As he told Bloomberg, “Bitcoin is the exit strategy”. 


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