tldr; A single Bitcoin whale, who had purchased 100,000 BTC during Bitcoin’s peak in 2021, may have contributed to Bitcoin's $9,000 price drop last week by selling their holdings at $49,000. This sale coincided with the U.S. approval of spot exchange-traded funds (ETFs), which was expected to cause a 'sell the news' event. The whale's sale, after breaking even from a significant price drawdown, could have netted a $100 million profit and may have played a role in the subsequent market liquidations and the ongoing struggle for Bitcoin's price to recover.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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