Massive $5B sell-off from a Bitcoin whale as BTC ETFs scoop up sats

We have a fascinating episode to cap your week off. One Bitcoin whale, who bought $5 billion worth of BTC in the last bull cycle, dumped the lot when Bitcoin hit $49,000 after the U.S. SEC approved spot Bitcoin ETFs. Did this spark a nosedive in BTC’s price that many attributed to “selling the news?” Meanwhile, spot Bitcoin ETFs are stacking sats, with over 10,000 Bitcoin purchased on day five of trading. And one trader sniped and bribed their way to $7 million of profit in under 3 hours!

Further reading:

• Did a $5B Bitcoin whale sale spark the post-ETF BTC price crash? — William Suberg
• Former OpenSea manager appeals conviction, claiming NFT info isn’t ‘property’ — Turner Wright
• Trader bribes way to $7M profit on SatoshiVM token launch — Prashant Jha
• Spot Bitcoin ETFs scoop up another 10,600 BTC on day 5 — Jesse Coghlan

References:
Lookonchain SAVM trade
Eric Balchunas spot Bitcoin ETF volume

So, grab yourself a coffee, and let’s get into it! 

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