Record-breaking Bitcoin whale selloff, 280k BTC offloaded in 30 days

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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.

Source: Glassnode.com
Source: Glassnode.com

Reviewing the Trend Accumulation Score by Cohort metric, on-chain Glassnode data confirms the concentration of sell pressure has been coming from BTC whales.

Source: Glassnode.com
Source: Glassnode.com

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