Analysts reported record sales of Bitcoin by whales, totaling $12.7 billion over the past month. These activities may exert pressure on the cryptocurrency's price in the coming weeks.
Whale Sales Volume and Price Impact
In the last month, whales sold more than 114,920 BTC, valued at $12.7 billion. CryptoQuant analyst 'caueconomy' noted that this is the largest sell-off in the past year, already contributing to price drops below $108,000. 'Current sales are pressuring the short-term price structure,' he stated.
Balance Changes and Investor Activity
Since early September, the balance change among whales reached a high not seen since March 2021, with over 95,000 BTC being shifted. However, despite the sell-off, the negative trend has begun to slow, with a weekly balance change of about 38,000 BTC as of September 6. Bitcoin traded within a range between $110,000 and $111,000 over the past three days.
Long-Term Predictions and Market Health
Despite short-term volatility, LVRG Research director Nick Ruck noted that institutional accumulation of Bitcoin could counterbalance whale sell-offs. He emphasized that while whale actions may limit near-term price increases, market resilience remains supported by corporate buying and growing ETF interest. In the long term, the market outlook appears much healthier.
Recent whale sell-offs have led to short-term pressure on prices, yet institutional purchases may offset these losses in the future.
