News View Non-AMP

Why Crypto Market down Today? Whale Sell-Offs Trigger Panic

Published by
Mustafa Mulla

Today, the crypto world is mostly in the red. Meanwhile, the total crypto market fell by 1% to $3.29 trillion. Bitcoin, the biggest crypto by market cap, dropped by 0.7% to $104,618.95 and its market value now stands at $2.08 trillion.

Even though the crypto fear index is steady at 55, it shows a neutral mood. So, what’s causing the downturn in the market?

Whale Activity Raises Concerns

One key reason is that the whales have started selling. These giant investors, who hold more than 10,000 BTC each, have been in profit-taking mode.

According to expert Willy Woo, some of these whales bought their Bitcoin as early as 2017, at dirt-cheap prices of $0 to $700. Now, with Bitcoin hitting long-term highs, they’re cashing in.

Joao Wedson from Alphractal also shared that whales are selling off between $105,000 and $100,000 levels. His charts show selling pressure building up, with the buy/sell ratio turning negative. This means more people are selling than buying, which adds extra weight to the market.

Bitcoin ETF Inflows Slow Down

Another reason why the market is down is the slowdown in Bitcoin ETF inflows. Recently, these ETFs had outflows of about $1 billion, and this week alone, around $267 million has flowed out. 

While there was a smaller inflow of $87 million yesterday, mostly driven by BlackRock’s $284 million buy-in, it wasn’t enough to offset the losses.

Historically, when ETF inflows slow down, Bitcoin’s price tends to feel the pressure. Just a few weeks ago, daily inflows of $1.5 billion were common, but now that’s not the case.

Altcoins Feeling the Heat Too

It’s not just Bitcoin that’s feeling the heat. Ethereum is mostly flat at $2,612, while Solana dropped 2.6% to $152.5. Other popular altcoins like XRP, Dogecoin, and Cardano have also taken a hit, each losing 3% to 5% in the past 24 hours.

All in all, the crypto market is in a cautious phase as whales take profits and ETF inflows slow down. 

FAQs

What role do crypto whales play in market downturns?

Crypto whales (holders of over 10,000 BTC) are selling off their holdings, especially those acquired at low prices, contributing to the current market downturn.

How have Bitcoin ETF inflows impacted the market recently?

Bitcoin ETF inflows have slowed significantly, with recent net outflows of about $1 billion and $267 million this week, historically putting pressure on Bitcoin’s price.

Are altcoins also affected by the current market conditions?

Yes, altcoins like Ethereum, Solana, XRP, Dogecoin, and Cardano are also feeling the heat, with many experiencing 2-5% price drops in the last 24 hours.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

CFTC’s FBOT Reverses Biden-era Overreach That Drove Crypto Trading Offshore

The Commodity Futures Trading Commission (CFTC) announced on Thursday that it is further aligning with…

August 29, 2025

Pyth Network Soars After U.S. Government Partnership—Will PYTH Price Reach $0.5?

Pyth Network (PYTH) price is enjoying its moment in the spotlight after the token spiked…

August 29, 2025

Chainlink Price Rebounds on Strong Adoption Led By U.S. Government and Caliber

Chainlink (LINK) price rallied as much as 10% on Thursday to reach a range high…

August 29, 2025

Last Chance to Enter Bitcoin Swift Presale as Avalanche and BNB Dominate Market Headlines

Crypto investors are buzzing as Avalanche (AVAX) and Binance Coin (BNB) dominate discussions, while Bitcoin…

August 28, 2025

U.S. Government Taps Into Top Blockchains Led By Bitcoin and Ethereum to Post Economic Data

The United States Department of Commerce (DoC) has posted key economic data on blockchain technology.…

August 28, 2025

El Salvador President Reacts as $1B Bitcoin Reserve Odds Soar On Prediction Markets

El Salvador’s President Nayib Bukele recently stirred online buzz after reacting to discussions about the…

August 28, 2025