Ali Martinez: “Recent BTC Drop is Intentional Production by Whales”

Pointed out the amount of BTC inflow to CEX... 4.6291 trillion won in scale

An analysis result was raised that the intentional selling pressure of whale wallets has created the recent decline in BTC.

Famous expert Ali Martinez pointed out through his X account on the 26th that whale wallets have deposited about 33,000 BTC to the centralized exchange (CEX) over the past few weeks.

BTC reached a new high of $108,300 on the 17th of this month, but has been declining since then, hovering around $96,000 on the 27th. It has fallen by about 12% from the all-time high.

Martinez claimed that whale wallets intentionally caused this decline. Referring to the on-chain analysis platform 's data, Martinez reported that whale wallets intentionally caused a large-scale BTC sell-off by pointing out the amount of BTC inflow to CEX.

In general, the amount of inflow from external wallets to CEX exchanges is interpreted as a sell volume, and only whale wallets can have the capacity to inflow more than 30,000 BTC.

The amount of BTC traded on CEX over the past few weeks is about 4.6291 trillion won.

Reporter Seung-won Kwon ksw@blockstreet.co.kr