Bitcoin whale Owen Gunden dumps entire $1.3B stack as institutional footprint grows

Owen Gunden, a prominent early Bitcoin investor, has liquidated his entire Bitcoin holdings worth approximately $1.3 billion amid a decline in retail investor confidence. Gunden's wallet sent its last 2,499 Bitcoin, valued at $228 million, to the Kraken exchange, marking the end of a significant investment journey that began long before 2014 when he heavily traded Bitcoin on various platforms. This move comes as concerns mount over the ongoing bearish market conditions, exemplified by CryptoQuant’s Bull Score Index dropping to 20/100. However, while retail investors exit, institutional ownership of Bitcoin ETFs is simultaneously rising, reaching 40%. This surge demonstrates that institutions aren't abandoning their positions and continue to hold amid market volatility, despite substantial outflows totaling $2.8 billion reported in November. The disparity reflects differing investment strategies between institutional and retail players in a challenging crypto market environment.

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