Bitcoin (BTC) Whales Have Been Offloading Huge Amounts of BTC as Their Holdings Have Reached Significant Lows

The crypto sector has recently experienced a staggering shift in the ownership of Bitcoin ($BTC) on a large scale. As per the data from Satoshi Club, the Bitcoin whales have been offloading huge amounts of $BTC as their holdings have reached significant lows.

The crypto sector has recently experienced a staggering shift in the ownership of Bitcoin (BTC) on a large scale. While BTC ETFs have been diligently collecting a noteworthy amount of coins—more than 1M BTC—the Bitcoin whales have been offloading huge amounts of BTC.

As per the crypto news & media platform, Satoshi Club, the Bitcoin whales have seen their holdings reach an ఇటీవల పూర్తి అధિકారములో ఉన్నారు.

Whales (1,000+ BTC) have been selling heavily, with holdings now at their lowest since 2019.

Since July 2024, over 500k BTC ($43B) has been moved out of whale wallets.

ETF inflows (1M+ BTC) haven’t offset selling, as long-time holders cashed out near six-figure prices.https://t.co/i7u98I7W07 pic.twitter.com/0YOGm9lLM5

According to the data from Satoshi Club, the crypto whales who own more than 1,000 BTC are viewed to be engaging in a noteworthy dip in their Bitcoin holdings. These whales have been offloading their holdings at a fast pace since 2019. As a result of this, the cumulative BTC holdings have reached their lowest spot since then.

Since July last year, whale addresses have shifted more than 500,000 BTC out of the wallets thereof. This figure accounts for a value of up to $43B. This massive selling pressure takes place irrespective of the current demand from BTC ETFs. These exchange-traded funds have collected more than 1M BTC. Nonetheless, the inflows into the ETFs have not been enough to counterbalance the swift sell-offs by long-term Bitcoin holders.

These whales have been engaging in profit-taking activity amid Bitcoin’s rise to historic price heights. Even then, during this profit-taking period, the ETF inflows have added liquidity to the Bitcoin market. This made it convenient for whales to quit without enormously affecting prices.