Part 6/12:
Compare this with past events: in 2018, unregulated whale moves had catastrophic effects. For example, a single transfer of 22,100 BTC contributed to an 80% price collapse, and the PlusToken Ponzi scheme liquidation in 2019 wiped out approximately 200,000 BTC, dragging the market down for months. These were periods dominated by retail-led panic, with little institutional support.
Today, even a $9.3 billion transaction—like the one orchestrated by Galaxy Digital—only caused a 1.4% dip in Bitcoin’s price. Such resilience is thanks to the structural changes brought about by ETFs and institutional participation, which act as stabilizers during large supply shifts.