COINOTAG News reported on September 8 that CryptoQuant analyst caueconomy identified a marked decline in whale reserves — wallets holding between 1k to 10k BTC — with a reduction of more than 100,000 coins over the past 30 days, signaling a pronounced risk-off sentiment among large holders.
CryptoQuant’s on-chain metrics indicate this pullback translates to a whale sell-off totaling 114,920 BTC in the 30-day window as of Saturday, constituting the largest such liquidation since July 2022, according to the dataset.
Analyst commentary warns the sustained distribution has “has damaged the price structure in the short term,” and that continued portfolio reductions by major participants could exert downward pressure on Bitcoin in the coming weeks.
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