Billionaire investor Mike Novogratz recently shed light on who is currently selling Bitcoin in the market. In a recent interview, Novogratz explained that the majority of Bitcoin selling is being done by retail investors who are feeling the pressure to take profits.
Novogratz, who is the CEO of Galaxy Digital, a cryptocurrency investment firm, emphasized that institutional investors are actually holding onto their Bitcoin rather than selling. This is a significant shift from previous market cycles, where institutions were quick to sell off their holdings during times of uncertainty.
Novogratz’s insights provide valuable information for those looking to understand the current dynamics of the Bitcoin market. As more retail investors look to take profits, it will be interesting to see how this impacts the overall price and stability of Bitcoin in the coming months.