Bitcoin Post-Halving: Massive Shift In Traders Selling BTC

Bitcoin‘s third halving successfully executed on May 11th. The whole crypto space was on fire, and Tone Vays held a massive 12-hour live session with amazing tests such as Mike Novogratz, Willy Woo, PlanB, Max Keiser, and more joined the countdown.

The halving event is a historical one:

Crypto analyst Willy Woo addresses post-halving selling

Crypto analyst Willy Woo said that miners are nit the largest sellers of BTC following the halving. The event reduced the rate of new BTC that’s entering the supply.

Woo just pointed out to the fact that crypto exchanges will be taking over the role as the most important source of selling pressure.

He says that crypto exchanges will soon take over the role as the biggest source of selling pressure.

The on-chain analyst says that crypto exchanges are essentially tax agents that collect fees in BTC from traders.

Woo estimates that exchanges extract 1,200 BTC per day from trading fees.

At the moment of writing this article, Bitcoin is trading in the green and the king coin is priced at $9,394.78.


Coins Mentioned

BTC

Bitcoin

Companies Mentioned

CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

1951 Articles

Top Exchanges
Icon
CEX.IO

3

Website

Icon
Coinbase

2

Website

Icon
Binance

1

Website

Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

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