According to a recent analysis by Colorways Ventures and The Consensus founder Kiarash Hossainpour, there may be a shockwave in the Bitcoin market, with some significant Bitcoin holdings potentially causing huge selling pressure on the market in the first half of 2024. First, Hossainpour warns people to pay attention to the Grayscale Bitcoin Trust Fund (GBTC), whose holdings have decreased from 621,000 BTC to just under 580,000 BTC since the launch of the spot ETF. Compared to other providers such as Bitwise (0.2%) and BlackRock (0.25%), the trust's high annual fee of up to 1.5% and Grayscale's history currently result in massive selling, which may be the reason for the current downward trend. Furthermore, there is no sign of an end yet. According to experts, there is still selling pressure of 281,045 BTC, or about $12 billion. In addition, the bankruptcy proceedings of Celsius and FTX exacerbate potential selling. It is expected that the liquidation and distribution will take place in the first half of 2024, and the approximately 38,000 BTC (worth $1.6 billion) provided by Celsius and the approximately 20,500 BTC (worth $850 million) provided by FTX may be converted into dollars.