The post Institutions Dumping Bitcoin: A Major Factor Behind Recent Price Drop? appeared first on Coinpedia Fintech News
Bitcoin has faced intense selling pressure recently, with its price dropping sharply below $54,000 in August. This notable downturn is primarily driven by significant selling activities from institutional investors, a trend that has left the cryptocurrency market in a state of flux.
Institutional Sell-Off Hits Bitcoin Hard
According to Wise Advice, a prominent crypto influencer, one of the main drivers behind Bitcoin’s recent price decline is the sell-off by institutional investors. Recent data reveals that significant Bitcoin transfers have been made to exchanges, a clear indication that major institutional players are either taking profits or repositioning their portfolios.
Institutions are dumping BTC Since August bottom Fidelity has sold 16000 BTC worth $915 million.
ArkInvest has sold 7,000 BTC worth $400.4 million
Grayscale has sold 15,
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