According to Foresight News , Garrett Jin, the whale who previously sold over $4.23 billion of BTC to move into ETH, tweeted, "Bitcoin and Ethereum have started to rebound as precious metals such as platinum, palladium, and silver have seen significant pullbacks. Positions in these metals were overcrowded and extremely overbought in the short term, increasing risk exposure. This triggered profit-taking, with funds shifting from overheated trading to relatively undervalued assets."
Garrett Jin: Precious metal prices have fallen sharply, while BTC and ETH have begun to rebound.
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