Bitcoin Bear Market Linked to Whale Sell-Offs, Woo Observes

Willy Woo, a well-respected analyst in the cryptocurrency space, has shed light on the underlying causes of the Bitcoin bear market.

According to Woo, the massive sell-off of Bitcoin by early whales is primarily responsible for the current market downturn. This assertion is supported by data from the blockchain, which shows that these large-scale investors are selling off significant amounts of BTC at a rate far exceeding new investment inflows.

This trend suggests that the bear market is being driven by the actions of a select group of influential investors rather than any fundamental issues with Bitcoin itself.