Crypto whales have sold $1.2 billion worth of bitcoin in the past two weeks

These sales could be explained by the whales’ search for other sources of profit, especially given the boom in the AI ​​sector.

$1.2 billion. This is the amount of bitcoin sales made over the last two weeks by crypto-whales (an investor who holds more than 1,000 bitcoins in his portfolio is called a whale). Large sums sold off-market which raise questions.

According to statistics from the firm Cryptoquant, several whales have decided to sell large quantities of bitcoins over the last 2 weeks. The difference with other usual transactions is that these were not carried out on traditional exchange platforms but via brokers and brokers.

According to Cryptoquant, these transactions are those of large, long-time holders but also of bitcoin miners. The firm also believes that they are looking for other sources of profit, especially given the boom in the AI ​​sector, which therefore led to this sell-off.

Nvidia surge

In terms of financial markets, this AI boom favors companies in the sector. The American giant Nvidia, which manufactures artificial intelligence chips, has also become the world’s leading company on the stock market in terms of market capitalization with a listing that exceeds $3,334 billion.

This liquidation by crypto-whales of part of their bitcoins would explain why bitcoin cannot return to the $70,000 mark.