PANews reported on August 30th that CryptoOnchain monitoring showed Bitcoin realized approximately $4 billion in profits yesterday, the largest single-day gain since February (excluding the outlier on July 4th). Data shows that mega-whales holding over 10,000 BTC contributed $2.17 billion, while large whales holding between 1,000 and 10,000 BTC generated $1.25 billion. CryptoOnchain noted that this clearly indicates that top traders are experiencing significant selling pressure near local highs, a significant red flag for short-term traders.
