Bitcoin Whales Trigger Fastest Sell-Off of Current Cycle, Dumping 147,000 BTC Since August

Large Bitcoin holders, often dubbed "whales," have initiated the most aggressive monthly sell-off seen in the current market cycle, offloading an astounding 147,000 BTC since August. This substantial distribution, valued at approximately $16.6 billion, is identified as a primary factor behind Bitcoin's recent price downturn.

Unprecedented Whale Activity Fuels Market Correction

Data analysis by CryptoQuant Head of Research Julio Moreno reveals that Bitcoin whales — defined as investors holding over 1,000 BTC, equating to roughly $112.8 million at current rates — have significantly reduced their holdings. This rapid divestment represents the fastest monthly exodus by this influential cohort in the ongoing market cycle. The behavior of these major players is crucial to observe, as their movements can directly influence Bitcoin's price trajectory and broader market sentiment. While exchanges and mining pools also hold substantial amounts of BTC, they are excluded from this "whale" category as they are not considered "normal" network participants.

Exchange Inflows Surge as Bitcoin Price Struggles

Further reinforcing the bearish sentiment, Bitcoin's Exchange Inflow metric has witnessed a sharp increase. This indicates that a considerable amount of Bitcoin is being moved from private wallets to centralized exchanges, often a precursor to selling activity. Following this heavy distribution, Bitcoin's spot price initially dipped below $112,000 on Tuesday before a slight recovery to $113,000. However, the continuous flow of BTC onto exchanges suggests that the selling pressure from large holders might not be over, hinting at continued volatility for the asset.