Price Analysis View Non-AMP

Bitcoin (BTC) Whales Continue To Sell Their Holdings- What’s Going On?

Published by
Sahana Vibhute

Bitcoin’s price has been trading above $17,000 since the early hours of the day and has been able to maintain its position. The bears have been unable to put significant pressure on the rally as the selling volume has decreased. However, the token still appears to be under significant bearish pressure, according to on-chain data.

Whales holding large amounts of BTC in their reserves play an important role in determining network confidence. However, in the latest update, the whales appear to have sold a significant amount of BTC and continue to sell. This could potentially impact the future price of BTC.


According to data from CryptoQuant, it is clear that whales have been selling their holdings since the Terra-LUNA crisis. These whales, whose holding and spending behaviors help to identify the Bitcoin market cycle, have sold nearly 367,000 BTC since the LUNA collapse. This has contributed to the continued decline in BTC price since June, and is likely to continue to create significant selling pressure on Bitcoin.

Furthermore, the whales liquidated their BTC holdings during the miner capitulation phase in November. The FTX-fiasco also had a major impact on the BTC price. In a bearish market, whale holdings play a crucial role, and it is evident that around 80% of the Bitcoin selloff since June came from whales. This suggests that more bearish pressure could be imminent for Bitcoin.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

XRP Price May Hit $0.54 in Coming Month and End the Q1 2023 Trade above $1!

As the foundations for a significant rebound have emerged, the markets appear to have stuck…

January 27, 2023

Bitcoin’s Hash Rate Hits New Records; What Next For BTC Price ?

As the 2023 bull rally drives Bitcoin (BTC)’s price movement to new five-month highs, the…

January 27, 2023

Dogecoin Bulls Are Ready; This Is When They Might Spark a Bull Rally to $0.2

Dogecoin price appears to be preparing to go to the moon as the Tesla &…

January 27, 2023

Massive Ethereum Price Correction Ahead – Here Is The Target

Bitcoin is the path builder for Ethereum and other major altcoins as most of the…

January 27, 2023

Here’s Why Long-Term Holders Are Key To Shiba Inu Ecosystem’s Success

The second largest meme-inspired cryptocurrency, Shiba Inu (SHIB), has seen a surge in positive market…

January 27, 2023

Decentraland Price Prediction 2023 – 2025: How High Can MANA Price Go?

The fast-paced world of cryptocurrencies has spread its wings towards diverse sectors, such as the…

January 27, 2023