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Third-Largest Bitcoin Whale Preparing Massive Sale
The well-known Bitcoin whale Owen Gunden is reportedly preparing to sell around $450 million worth of BTC. Since October, he has transferred approximately 13,000 BTC to various exchanges, equating to about $1.48 billion. Bitcoin has been trading between $100,000 and $125,000 with a downward trend, influenced by such whale sales. Crypto analyst Julio Moreno notes that long-term holders are significantly increasing their sales, a pattern often seen during bull markets when profits are realized. However, demand cannot absorb the increased supply at high prices, contributing to the price decline. Gunden was previously ranked third-largest individual Bitcoin whale, after Satoshi Nakamoto and Justin Sun.
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