Billions in Bitcoin Sold by Whales
Bitcoin whales have triggered the largest sell-off since mid-2022, unloading around 115,000 BTC—worth nearly $12.7 billion—over the past month. Analysts warn that this wave of selling could keep pressuring the Bitcoin price in the coming weeks.
CryptoQuant analyst “caueconomy” noted that whale reserves have dropped by more than 100,000 BTC in the last 30 days, signaling “intense risk aversion among large investors.” The selling pressure pushed Bitcoin below $108,000, marking the sharpest whale-driven decline in over two years.
Whale Selling Shows Signs of Slowing
The most aggressive activity came in early September, when the seven-day balance change surged past 95,000 BTC—the highest level since March 2021. However, the pace has eased, with whale outflows dropping to around 38,000 BTC by September 6.
Despite the sell-off, Bitcoin has stabilized in a narrow trading range between $110,000 and $111,000 in recent days, suggesting some relief from the intense selling pressure.
Institutional Buyers Provide Support
Not all investors are heading for the exits. According to Nick Ruck, director at LVRG Research, institutional accumulation of Bitcoin and ETF-driven demand are providing a “structural counterbalance” to whale selling.
This tug-of-war could cap short-term momentum, but it highlights the resilience of the cryptocurrency market. Ruck explained that traders should watch whether institutional dip-buying can outweigh whale-driven pressure, while macroeconomic factors—such as the U.S. Federal Reserve’s September rate decision—could ultimately shape Bitcoin’s direction.
Long-Term Bitcoin Outlook Remains Strong
Despite short-term volatility, the broader picture looks more optimistic. Bitcoin has only corrected about 13% from its mid-August all-time high—much shallower than typical pullbacks in previous cycles.
Analyst “Dave the wave” highlighted that Bitcoin’s one-year moving average has climbed from $52,000 a year ago to $94,000 today and is set to break $100,000 next month. This trend reinforces long-term bullish sentiment, even as whales take profits.
Key Takeaway
The recent Bitcoin whale sell-off has rattled short-term market sentiment, but institutional buying and long-term growth metrics suggest the cryptocurrency’s foundation remains strong. Investors should prepare for continued volatility while keeping an eye on both whale activity and macroeconomic developments.
