How panicked is the crypto world? Even the "first-generation whales" are fleeing, Owen Gunden liquidated $1.3 billion in Bitcoin holdings in one month
On Thursday, Owen Gunden transferred the last 2,499 bitcoins to the cryptocurrency exchange Kraken, worth $228 million. Since October 21, this wallet has sold approximately 11,000 bitcoins, completely liquidating its position. In stark contrast, institutional investors have continued to increase their holdings, with the proportion of shares in the U.S. spot Bitcoin ETF rising from 27% in the second quarter of 2024 to 40%