Bitcoin on-chain analysis leads one analyst to suggest that BTC price pressure could be down to one long-suffering Bitcoin buyer from 2021.
Bitcoin (BTC) could have dropped $9,000 last week because of a single whale, a new theory suggests.
In a post on X (formerly Twitter) on Jan. 18, James Van Straten, research and data analyst at crypto insights firm CryptoSlate, drew attention to a massive entity selling BTC.
Bitcoin’s 15% dive from $49,000 highs, which began on Jan. 11, is widely attributed to a “sell the news” event as part of the United States approval of spot exchange-traded funds (ETFs).
