People new to the Bitcoin market often wonder during bear times, "Who's doing all the fkn selling?!?!?"
The secret: It's literally a small group of colluding whales, that control all the float rn. Most likely exchange whales.
That's it, that's the secret.
And right now, they are determined to push the price sub $30K. Because they believe that price level is a psyche threshold that paper-handed n00bs care about.
It's all about inducing panic.
https://medium.com/@bawdyanarchist/bitcoin-supply-distribution-c513722e62a8>RESULTS: 0.9% of persons control about 63% of the supply.
>Again, this is the absolute best possible case. The actual concentration of wealth is likely significantly higher.