Decade-Old Whales Increase Sales Amid Sideways Bitcoin Pattern

Key Points

1. 10-year Bitcoin whales have sold significant volumes of crypto assets in the last seven days, some holding since 2014.

2. These whales initially accumulated Bitcoin when it traded around $1000, now yielding gains up to 117,000%.

3. Bitcoin reached a new all-time high above $122k before correcting slightly to above $118k.

4. Ethereum and BNB bucked the market trend, with BNB tapping an all-time high and institutions like SharpLink adding $295 million worth of ETH to reserves.

5. A decrease in Bitcoin holdings by U.S.-based institutions has historically led to medium to long-term sideways movement and corrections.