🍁 Golden Autumn, Big Prizes Await!
Gate Square Growth Points Lucky Draw Carnival Round 1️⃣ 3️⃣ Is Now Live!
🎁 Prize pool over $15,000+, iPhone 17 Pro Max, Gate exclusive Merch and more awaits you!
👉 Draw now: https://www.gate.com/activities/pointprize/?now_period=13&refUid=13129053
💡 How to earn more Growth Points for extra chances?
1️⃣ Go to [Square], tap the icon next to your avatar to enter [Community Center]
2️⃣ Complete daily tasks like posting, commenting, liking, and chatting to rack up points!
🍀 100% win rate — you’ll never walk away empty-handed. Try your luck today!
Details: ht
The fastest sell-off in the cycle from Bitcoin whales
Bitcoin whales have sold 147,000 BTC since August 21, coinciding with the recent acceleration of Bitcoin sales. As a result, the total amount of Bitcoin held by this group has experienced the fastest decline since October 2024.
Investors representing large amounts of assets in the cryptocurrency markets, known as "whales," have made the largest sale of the current cycle.
Julio Moreno, the research director of the data analytics company CryptoQuant, announced that this group of investors, which holds at least 1,000 BTC, has sold a total of 147,000 BTC since August 21. It was noted that the market value of this sale corresponds to approximately 17 billion dollars. Thus, the reserves of whales recorded the fastest monthly decline since October 2024.
Monthly change in the amount of Bitcoin held by whales
According to Moreno, this wave of sales is one of the main reasons for the recent pullback in Bitcoin prices.
Whales are among the most influential actors in the market. Therefore, changes in their positions can trigger price movements directly and provide critical indicators for measuring market sentiment.