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CryptoQuant CEO Ki Young Ju highlighted Bitcoin’s resilience despite a massive sell-off by whales. Since 2023, these large holders have offloaded $142 billion worth of BTC, yet the market has remained bullish. Bitcoin, which was around $20,000 in 2023, has since surged, recently touching an all-time high of $109,114.88 on January 19, 2025.
Despite efforts to push the price down, institutional demand, retail accumulation, and Bitcoin ETFs have absorbed the selling pressure. Analysts estimate that the BTC dumped since 2023 could buy up to 2.5 million Bitcoin at today’s rates. Ju humorously noted that whales may be frustrated, saying, “It just keeps going up... sorry, bears, we tried.”
Bitcoin’s remarkable growth has fueled speculation about its future trajectory. Industry experts recall early Bitcoin adopter Hal Finney’s prediction of BTC reaching $1 million. While Bitcoin currently trades at around $97,560.78, some believe it’s only a matter of time before it achieves that milestone.
MicroStrategy’s rebranded investment arm, Strategy, has reinforced its Bitcoin-first agenda, further validating bullish sentiment. BTC recently tested the $100,000 resistance level, hitting $98,492.90 in early trading before slightly retreating.
With continuous institutional adoption and growing mainstream interest, Bitcoin’s long-term outlook remains strong. The market’s ability to withstand massive whale sell-offs underscores the increasing confidence in BTC as a store of value. As adoption rises, Bitcoin’s path to higher valuations, including Finney’s $1 million prediction, remains a topic of intense discussion.
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