Price analysis 7/22: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX
Cointelegraph
Published Jul 22, 2022 03:04PM ET
Updated Jul 23, 2022 05:20PM ET
In a downtrend, when markets do not respond negatively to bearish news, it is a sign that the selling may have reached exhaustion. Reports of electric vehicle maker Tesla (NASDAQ:TSLA) dumping 75% of its Bitcoin (BTC) holdings in the second quarter only caused a minor blip as lower levels attracted strong buying from the bulls.
Tesla was not the only institution that sold its Bitcoin. Arcane Research analyst Vetle Lunde highlighted in a Twitter (NYSE:TWTR) thread that large institutions have sold 236,237 BTC since May 10.
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Written By: Cointelegraph
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