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.
BTC0.76%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)