Crypto Quant Research Director: The pullback in BTC is due to short-term traders and whale profit-taking
Crypto Quant research director Julio Moreno tweeted that there is a belief that the current Bitcoin price correction is due to GBTC selling Bitcoin. In fact, GBTC has sold approximately 60,000 Bitcoins, while other ETFs have collectively purchased around 72,000 Bitcoins. The sellers of Bitcoin are the Bitcoin holders (short-term traders and whales) who took profits after last year's rebound (the approval of ETFs was a "sell-the-news" event).
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