BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX By Cointelegraph
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:) dumping 75% of its (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:) thread that large institutions have sold 236,237 BTC since May 10.