Yesterday saw one of the highest single-day profit-taking events in #Bitcoin history, with over $10.5 billion realized. Despite this, incoming demand absorbed it entirely. Weak hands are exiting while strong hands continue to accumulate. Extremely bullish. 
Discussion
I had a feeling that this is what was going on. :) Thank you.
Why part ways with a scarce asset for an infinte supply of fiat? Explain the logic to me.
Seems like the worst time ever to sell knowing what’s coming
A lot of these coins have not moved since like 2014 these people probably set a target of 100k to sell. They earned it. Sometimes you got to sell to make life improvments like a house. I agree but these people are legends. Let them enjoy life a little now. Sadly the suits are the ones accumulating the coins.
Great context. And you are absolutely right because I would do the same thing in that situation. It’s a tool to be used and I hope to use it well. Thanks for the context it’s super helpful!
Thanks for the analysis!
Realized price has been increasing rapidly. $200-250 per day in some cases.
