In a recent Twitter thread, Arcane Research analyst Vetle Lunde revealed how many Bitcoin institutional investors had sold since Terra’s carnage kicked in, thus tanking the whole crypto market. In his estimate, Tesla sold 29,060 BTC at an average price of $32,209 in May. Since then, the contagion has spread quickly across the industry and deepened the selling pressure, leading to 236,237 BTC being sold by large institutions.
236K BTC Sold by Large Institutions Since Terra’s Implosion in May
