236,237 BTC sold by known institutions in the last two months
236,237 BTC. That’s the amount of known selling of bitcoin since May 10th by large institutions. Most of the selling is related to forced selling, some is not. We provide a brief post-mortem on the selling pressure and contagion in the last two months.
Jul 21st 2022
Source: Luna Foundation Guard, Tesla, Purpose, 3AC Court Documents, Dune, Monthly Miner Production Updates
*Tesla’s BTC sell order is estimated based on selling 75% of BTC holdings of 38,748 BTC. The Tesla holding estimate is based on a VWAP estimate from Jan 4th-Jan 29th (43,053 BTC 2021 and a subsequent 10% sell in April 2021.
The 236,237 BTC number is derived from massive institutional blow-ups and other large known selling seen during the market stress in the last two months. The number does not account for other natural capitulation and hedging activity that usually occurs during crypto bear markets.