Large Bitcoin holders have unloaded more than $12 billion worth of BTC in just one month, sparking renewed concern over short-term price stability.
Data from CryptoQuant shows whale wallets — those holding between 1,000 and 10,000 BTC — reduced their reserves by over 100,000 coins in the past 30 days.
Biggest Sell-Off Since 2022
Analysts describe the outflow as the heaviest whale distribution since July 2022. With roughly 114,920 BTC sold, worth about $12.7 billion at current levels, the selling spree has weighed on Bitcoin’s price structure, briefly pushing the market below $108,000 earlier this week.
CryptoQuant’s “caueconomy” noted that the trend reflects rising risk aversion among large investors: “Major players are still reducing their portfolios, and this could keep pressure on prices for the next few weeks.”
Signs of Slowdown
While September began with whales shifting nearly 95,000 BTC in just one week — the largest seven-day change since March 2021 — recent figures suggest the intensity is easing. As of September 6, weekly outflows dropped closer to 38,000 BTC.
Despite the drawdowns, Bitcoin has steadied in a narrow trading range, hovering between $110,000 and $111,000 over the past three days. Some in the market, including Bitcoin entrepreneur David Bailey, argue that if selling stops, prices could even climb as high as $150,000.
For now, however, the spotlight remains on whale behavior, which continues to dictate near-term momentum.
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Source: https://coindoo.com/massive-whale-sell-off-threatens-bitcoins-short-term-rally/