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Large capital inflows cause selling pressure on Bitcoin and Ethereum
【Crypto World】A major asset management institution recently transferred a huge amount of assets to a compliant crypto custody platform: 3,970 Bitcoins and 82,813 Ethereum, with a total value exceeding $600 million. This move has attracted considerable attention in the market. Why? Because just ten days ago, this institution sold off $361 million worth of crypto assets.
Two transactions, one after the other, have led the market to speculate—are they continuing to reduce their holdings? Or are they preparing for a major move later on? The answer became clear when the prices responded. After the news broke, Bitcoin dropped from over $89,600 to $89,419, a decline of 0.45%; Ethereum also didn’t fare well, falling from $2,973 to $2,958.45, a decrease of 0.56%.
It seems that the actions of large institutions can still shake the market. With such a long and sensitive capital chain, retail investors should stay cautious.