Bitcoin whale selling jumps while BTC price holds $60K and buyers snap up supply
Bitcoin (BTC) is still seeing a supply squeeze despite a significant uptick in whale selling on exchanges this week.
As confirmed by on-chain monitoring resource CryptoQuant on Nov. 5, whales have accounted for the vast majority of selling pressure in recent days.
A familiar event but with curious timing — large-volume holders are "dumping" BTC on the market, but at or near April's all-time highs.
Despite seemingly unanimous consensus among traders and analysts that the bull run is far from over, whales appear eager to divest themselves of their holdings.
"Most BTC exchange deposits are coming from whales," Ki Young Ju, CEO of CryptoQuant, said as part of comments Friday.
An accompanying chart of the exchange whale ratio — the top ten inflows to
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