Cryptocurrency analyst Willy Woo shed light on Sunday on why Bitcoin’s (CRYPTO: BTC) price is not rising as quickly as expected, attributing it to the selling patterns of early investors.
Early Bitcoiners Hold The Key
In an X post, Woo highlighted that Bitcoin’s supply is concentrated among “OG whales” who peaked their holdings in 2011.
“They bought their BTC at $10 or lower. It takes $110,000+ of new capital to absorb each BTC they sell,” Woo said.
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Woo emphasized that …