Bitcoin Whales Offload 36.5K BTC, Valued at $3.37 Billion in December

In recent weeks, on-chain data has revealed significant selling activity from some of Bitcoin's largest holders. Wallets that contain between 10,000 and 100,000 BTC have collectively sold off 36,500 BTC since early December.

Key Takeaways

Bitcoin wallets holding between 10,000 and 100,000 BTC sold off 36,500 BTC.
The total value of this sale is approximately $3.37 billion.
Current market fluctuations have Bitcoin trading around $89,646.
The selling pressure from whales has increased significantly, influencing price stability.
Traders are closely monitoring exchange inflows to assess market direction.

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Bitcoin Whales Release 36,500 BTC During Market Volatility

The total worth of the Bitcoin that has been sold or moved amounts to around $3.37 billion. This significant transaction aligns with a time of increased market volatility, as Bitcoin has been fluctuating between $85,000 and $94,000 over the course of the month. Currently, Bitcoin is trading at $89,646.

Market Trends

The selling pressure from this group of whales surged by more than 130% in just the first half of December. Their selling activity is considered a crucial factor in Bitcoin's struggle to achieve and maintain higher price levels, even amidst some positive institutional developments, such as notable inflows into spot Bitcoin ETFs.

Trader Insights and Future Predictions

The activity from this specific group of whales serves as an important signal for trading desks. While there is an observed accumulation trend among smaller holders (often referred to as "sharks," with 100-1,000 BTC), the selling pressure from those holding 10,000 to 100,000 BTC frequently precedes significant price drops or prolonged periods of consolidation. This is not simply retail profit-taking; rather, it represents a strategic, large-scale distribution by long-term investors.

Traders are now paying close attention to data concerning exchange inflows. An increase in inflows would indicate that these movements are likely preparations for sales on the open market rather than mere wallet management or over-the-counter (OTC) transactions. This could heighten the likelihood of testing lower support levels, particularly around the $80,400 mark.