The team as a whole owes $100,000 in taxes and has had to sell 10m bts recently.
A small whale right there.
Good to know, thanks.
If recently means 'the past three weeks', then I believe this mostly explains the drop from ~5500 to 4000 satoshis during a low volume pullback. Some of the unlocked balances being sold, and the general drop in bitcoin would explain the rest of the decline.
If recently means the past 2-3 months, then it only explains part of it and there need to be a couple more bearish whales.
One positive from this in terms of decentralization is that the top holders of BTS now have ~10M less, or .4% of all supply.