TLDR
- Bitcoin whale balances declined steadily in 2025, dropping from 3.2 million BTC to around 3.0 million BTC.
- The 30-day percentage change in whale holdings stayed negative for most of the second half of the year.
- Short-lived accumulation phases in March, May, and October reversed quickly without sustained recovery.
- Bitcoin price movements tracked whale wallet outflows during both rallies and declines.
- No clear reaccumulation signals appeared as Bitcoin traded below $85,000 late in 2025.
Bitcoin whale wallets steadily trimmed their holdings in 2025, showing net selling during price corrections and rallies. Data indicates Bitcoin whale balances declined from 3.2 million BTC in January to around 3.0 million BTC by December last year. The 30-day percentage change in holdings remained negative throughout most of the second half of the year. Bitcoin’s price followed a volatile pattern but remained correlated with these wallet outflows.
Bitcoin Whale Holdings Declined Throughout Last Year
According to an observation by CryptoQuant, Bitcoin whale addresses holding large BTC amounts, excluding exchanges and miners, reduced their balances steadily over the year. From January to December 2025, the total whale balance fell from 3.2 million to nearly 3.0 million BTC. This sustained decline highlights net selling behavior despite temporary bullish phases in the market.
Short-lived accumulation appeared in March, May, and October, but these upswings reversed quickly. Whale balances dropped after each peak, especially in Q4. The absence of prolonged accumulation shows reluctance from large holders to re-enter positions.
In December, whale balances reached their lowest point of the year. At the same time, Bitcoin’s price fell below $85,000. This alignment reflected a strong correlation between wallet activity and market direction.
30-Day Change Metric Signals Ongoing Distribution
The 30-day percentage change in whale holdings remained mostly negative after Q2 2025. While minor positive spikes occurred earlier in the year, they did not sustain. The change dipped below -6% in December, its lowest level in 2025. Each negative reading signaled increased selling pressure from whale addresses.
These patterns intensified during Bitcoin’s price decline from October to December. The metric reflected a clear distribution, not neutral or accumulation behavior. The metric remained aligned with the total balance downtrend.
Historical reaccumulation signals were absent throughout the chart. As Bitcoin fell below $85,000, this percentage metric showed no signs of reversal. The absence of positive momentum continued to support net outflows. Wallet data maintained a bearish tone going into 2026.
Bitcoin Price Moves With Wallet Outflows
Bitcoin rose from $80,000 in January to test $115,000 in March. During this rally, whale balances held steady before beginning to decline. As prices topped, wallets showed early signs of distribution. Between April and September, Bitcoin hovered above $100,000 but faced choppy volatility.
Wallets shed holdings during this phase, reversing the gains made in May and August. The price reached $120,000 in July before forming lower highs. From October through December, Bitcoin dropped sharply to below $80,000. This fall mirrored steep outflows from whale wallets during the fourth quarter.
Both metrics declined, reflecting synchronized bearish activity. No consistent reaccumulation phase emerged as prices declined. The current range matched whale balance levels last seen in mid-2023. Large holders remained absent from the market recovery trend.
The post Bitcoin Whale Holdings Decline Through 2025: Could Q1 2026 Reverse the Trend? appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoin-whale-holdings-decline-through-2025-could-q1-2026-reverse-the-trend/