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

Bitcoin whales have recently engaged in one of the largest sell-offs in years, unloading approximately 115,000 BTC—valued at $12.7 billion—over the past month. Analysts warn that the persistent wave of selling by large holders could continue to weigh on prices in the short term. According to CryptoQuant, this marks the most significant whale-driven distribution since mid-2022, as major investors reduce exposure and signal heightened risk aversion.

CryptoQuant analyst “caueconomy” explained that whale reserves have dropped by more than 100,000 BTC in the past 30 days alone, reflecting a defensive stance among key players. This aggressive selling has dragged prices below $108,000, undermining short-term market structure. Data confirmed that the 30-day net change of 114,920 BTC represents the largest monthly reduction in whale holdings since July 2022, amplifying concerns about further downside pressure. On September 3, the seven-day balance change reached levels unseen since March 2021, with more than 95,000 BTC moved by whales in a single week.

Despite this, some analysts see reasons for cautious optimism. The pace of selling has slowed in recent days, with weekly whale outflows easing to about 38,000 BTC by September 6. Over the past three sessions, Bitcoin has stabilized in a narrow $110,000–$111,000 range, hinting at temporary relief from the intense distribution. Meanwhile, entrepreneurs such as David Bailey suggest prices could rally toward $150,000 if the largest whale sellers step back.

Market resilience is also being reinforced by institutional inflows. Nick Ruck, research director at LVRG, noted that while whale-driven liquidations have generated volatility, corporate accumulation and ETF-related buying have provided a counterbalance. He emphasized that this divergence suggests whale activity may cap near-term upside but does not undermine the broader structural demand for Bitcoin. Traders, he said, should closely monitor whether institutional dip-buying ultimately outweighs whale-driven pressure, while macroeconomic developments—such as the Federal Reserve’s September rate decision—could dictate the broader direction.

Looking at the longer-term picture, Bitcoin’s trajectory remains more constructive. The asset has corrected just 13% from its mid-August all-time high, a far shallower pullback compared with previous cycles. Analyst “Dave the wave” pointed out that the one-year moving average has nearly doubled, rising from $52,000 a year ago to $94,000 today, and is projected to surpass $100,000 in October. This perspective suggests that despite short-term turbulence, Bitcoin’s long-term trend continues to strengthen.

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