Bitcoin Whale Supply Drops To 6-Year Low – Will BTC Price React?
The post Bitcoin Whale Supply Drops To 6-Year Low – Will BTC Price React? appeared on BitcoinEthereumNews.com.
Bitcoin has been on an upward trajectory this week, with its price pushing toward the crucial $110,000 mark. However, sustaining this momentum could prove challenging, as it has been for the last two months. Whales appear to be taking profits, which may impact Bitcoin’s ability to maintain these gains. Bitcoin Whales Sell Heavily Whale activity has been notable in recent days, with addresses holding between 1,000 BTC and 10,000 BTC, selling off significant portions of their holdings. In the past week alone, these whales have sold over 40,000 BTC, valued at more than $4.3 billion. This selling pressure is likely a response to Bitcoin’s recent price rise, as these large holders may be uncertain about the sustainability of the rally. This type of selling by whales can be detrimental to Bitcoin’s price, as it creates bearish pressure when such large volumes are sold at once. The impact of whale selling could prevent Bitcoin from maintaining its upward momentum. Bitcoin Whale Holdings. Source: Santiment In addition to whale selling, the Liveliness metric, which tracks the frequency of Bitcoin transactions, has seen a sharp uptick this week. A rising Liveliness typically signals that long-term holders (LTHs) are moving their assets instead of holding them. This shift suggests that LTHs are opting to sell their holdings rather than accumulate, which mirrors the actions of the whales. LTHs, with their significant influence over Bitcoin’s market, are likely to have a pronounced effect on price movements. If they continue to sell, it could lead to further volatility and potentially limit Bitcoin’s price recovery. Bitcoin Liveliness. Source: Glassnode Can BTC Price Make It Past $110,000? Bitcoin’s price has risen by 7% in the last 24 hours, reaching $108,145 at the time of writing. The cryptocurrency is currently attempting to establish $108,000 as a solid support level. However,…
Filed under: News - @ June 29, 2025 5:15 pm