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.

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