FameEX Hot Topics | Bitcoin Whales Trigger Massive 115,000 BTC Sell-Off, Largest Since Mid-2022

Bitcoin whales have sparked major market attention after selling more than 115,000 BTC—valued at around $12.7 billion—over the past month. Analysts warn that this unprecedented wave of selling, the largest since mid-2022, could continue to weigh on Bitcoin’s price for weeks. CryptoQuant data shows whale holdings have contracted sharply, signaling risk aversion among the market’s largest players.

CryptoQuant analyst “caueconomy” noted that whale reserves dropped by over 100,000 BTC in just 30 days, underscoring the intensity of distribution. This selling pressure has pushed Bitcoin below $108,000, destabilizing its short-term price structure. The firm recorded a 30-day balance change of 114,920 BTC, the steepest drawdown since July 2022. On September 3, the seven-day net balance shift peaked at levels not seen since March 2021, with whales moving more than 95,000 BTC in a single week.

Still, some signs suggest the worst may be easing. By September 6, weekly whale outflows had slowed to about 38,000 BTC, down from earlier extremes. Over the following three days, Bitcoin steadied between $110,000 and $111,000, showing resilience despite heavy distribution. Notably, Bitcoin entrepreneur David Bailey argued that if just two major whales halt selling, the market could rebound aggressively, potentially pushing prices toward $150,000.

Institutional accumulation also appears to be providing a counterbalance. Nick Ruck, director at LVRG Research, explained that while whale-driven liquidations triggered short-term volatility, ETFs and corporate buyers have steadily added Bitcoin during this period. This divergence suggests that whale activity is capping upside momentum in the short run but does not undermine the underlying bullish structure. Ruck advised traders to watch whether institutional demand can outweigh whale pressure, while external catalysts such as the Federal Reserve’s September rate decision may ultimately set the broader market direction.

From a long-term perspective, Bitcoin remains far healthier than previous cycles. The cryptocurrency has corrected only 13% from its mid-August all-time high, compared with steeper historical pullbacks. Analyst “Dave the wave” highlighted that the one-year moving average climbed from $52,000 a year ago to $94,000 today, and is poised to surpass $100,000 next month. This structural strength, combined with growing institutional demand, suggests that despite whale-driven turbulence, Bitcoin’s long-term trajectory continues to point higher.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.