Bitcoin Whales Dump BTC at a Rate 9X Higher than Yearly Average, but the Price Remains Resilient

Bitcoin is experiencing its largest selling pressure since the Three Arrows Capital (3AC) collapse in 2022. Whale investors have offloaded BTC at a rate nine times higher than the yearly average.

Bitcoin (BTC) encountered its highest selling pressure in nearly two years, as per Bitwise Europe’s head of research. Large transactions on spot exchanges indicate that major holders are cashing out.

However, Bitcoin’s ability to stay above key levels despite this pressure hints at strong demand. Dragosch believes the market could be reaching a point where sellers have exhausted their selling capacity.

Bitcoin Whales Selling at 9x Yearly Average Rate: Analysis

Bitcoin saw its highest selling pressure in nearly two years as large transactions on spot exchanges suggest major holders are cashing out at a rate nine times higher than the yearly average, an analysis shows.

This selling activity, observed by Bitwise Europe’s head of research André Dragosch, was last seen following the Three Arrows Capital (3AC) collapse in June 2022.

Dragosch highlighted the stark difference in Bitcoin price behavior despite the heavy selling pressure. According to the analyst, such an occurrence could indicate seller exhaustion.

“We have just reached the highest amount of selling pressure on Bitcoin spot exchanges since the collapse of 3AC in June 2022,” Dragosch stated in a tweet on March 13.

“Yet, the price is still close to $100k. Seller exhaustion.”

MicroStrategy’s Bitcoin Buying Strategy Continues

While major holders are offloading their Bitcoin holdings, MicroStrategy (NASDAQ:MSTR) continues its aggressive accumulation strategy.

Last week, the company purchased 7,633 BTC for $742 million at an average price of $97,255, as reported by blockchain tracking platform Lookonchain.

MicroStrategy now holds 478,740 BTC, valued at approximately $46.55 billion, with an average buying price of $65,033 per BTC.

Institutions like MicroStrategy remain confident in Bitcoin’s long-term potential, and their continued accumulation suggests that some large investors still see Bitcoin as an attractive asset despite ongoing volatility.

Bitcoin Price Averages $97.4K Amid Macro Events

QCP Capital noted that various macroeconomic events are influencing the current price movements.

Last week, DeepSeek’s market activity and U.S. trade policy shifts contributed to turbulence. Former U.S. President Donald Trump’s proposed 25% tariffs on steel and aluminum briefly rattled financial markets.

Given that Mexico and Canada are key steel suppliers to the U.S., concerns about renewed trade tensions have emerged. Stance on potential sanctions against Japan has further unsettled investors. This follows the White House’s recent decision to block Nippon Steel’s acquisition of U.S. steel.

Cautious Bitcoin Sentiment Prevails

Bitcoin briefly dropped to $95,000 in response to last week’s uncertainty but quickly rebounded. According to analysts, market sentiment rather than fundamentals drove the price movements.

Right now, traders favor put options until April, signaling cautious sentiment and a lack of strong bullish catalysts.

As of press time, Bitcoin is priced at $97,449.43, reflecting a 1.05% increase in the past 24 hours and a 2.77% gain over the past week.