Whales, the largest holders of Bitcoin (BTC), have been selling the most BTC ever recorded on a 30-day basis. Over the last 30 days, these whales have offloaded a total of 280,000 BTC, according to Glassnode on-chain data.
It is estimated that whales currently hold around 9 million BTC, representing a significant portion of the total BTC supply.
- Whales holding 1,000 to 10,000 BTC have 3.6 million BTC.
- Whales holding 10,000 to 100,000 BTC hold 1.9 million BTC.
- Whales holding 100,000 BTC or more hold 3.6 million BTC.
These large holders of Bitcoin have a significant influence on the market, and such selling activity can impact the price of BTC.
Reviewing the Trend Accumulation Score by Cohort metric, on-chain Glassnode data confirms the concentration of sell pressure has been coming from BTC whales.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
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- Source: https://cryptoslate.com/record-breaking-bitcoin-whale-selloff-280k-btc-offloaded-in-30-days/
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