NYDIG suggests $1.3B IBIT sale was whale exiting directional trade
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- NYDIG suggests the $1.3B IBIT sale was a whale exiting a directional trade.
- U.S.-listed Bitcoin ETFs have recorded 11 straight trading days of net outflows, according to Farside Investors.
- Bitcoin fell out of the global top‑10 assets as its market cap slipped below $1.5 trillion.
- Crypto Fear & Greed Index posted a score of 29 on Monday, signaling “fear”, and averaged a “fear” rating for May.
- Cipolaro noted the whale’s urgent selling and execution premium point to discretionary liquidation rather than forced redemptions or portfolio rebalancing.
Why it matters: ETF investors face continued withdrawals, Bitcoin’s market cap slipped below $1.5 trillion and fear rose to a 29‑point “fear” rating, and the whale’s premium‑priced liquidation reflects discretionary selling rather than forced redemptions.
