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International Business Times
International Business Times
Business
Marvie Basilan

Ancient Bitcoin Whales Cash Out $1.2 Billion In 2 Weeks, ETF Flows Negative: Analyst

Bitcoin ETF Ki Young Ju CryptoQuant
Ancient Bitcoin whales are selling, but some say their activity is not the entire story. (Credit: QuoteInspector.com/flickr)

KEY POINTS

  • CryptoQuant CEO Ki Young Ju said the sell-offs come amid $460M in spot BTC ETF outflows in the past 2 weeks
  • On Tuesday alone, Bitcoin ETFs saw net outflows of $152.4 million
  • Other whales appear to be unfazed by the price slump, buying a collective 20K BTC in one day last week

Long-term Bitcoin holders sold a staggering $1.2 billion worth of BTC in the past two weeks, on-chain data revealed, and the cash out trend comes at a time when spot BTC exchange-traded fund (ETF) net flows have been negative.

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