New Bitcoin whales may send BTC price to $85K: Here’s why

Analysts say Bitcoin’s volatile price action reflects an increasing risk of distribution as new BTC whales control the price action. Is a drop to $85,000 in play for the short-term?

Bitcoin (BTC) has struggled to regain momentum after the price dipped below $90,000 on Tuesday, with multiple analysts pointing to continued selling pressure in the short term.

Key takeaways:

New BTC whales with a holding period of less than 155 days now control more realized capital than the “OG” long-term holders.

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