The post Bitcoin Whale Wallets See Largest Decline in 2023 appeared on BitcoinEthereumNews.com.

Key Points: On-chain data indicates a steep drop in Bitcoin whale holdings. Year-over-year decline of 220,000 BTC in whale wallets. The shift hints at evolving market participation and liquidity dynamics. CryptoQuant reported that Bitcoin whale wallets holding 1,000–10,000 BTC have seen a year-over-year decrease of 220,000 BTC, the fastest drop recorded since early 2023. This trend suggests a shift from accumulation to distribution, impacting Bitcoin market dynamics and potentially signaling a late-cycle phase similar to previous cryptocurrency peaks. Bitcoin Whale Holdings Drop by 220,000 BTC in 2023 On-chain data analysis by CryptoQuant highlights a rapid drop in Bitcoin whale wallets, amounting to 220,000 BTC. This marks the fastest decline since early 2023, as noted by their on-chain metrics. The analysis indicates a shift from whale accumulation to distribution, impacting market sentiment. Exchange distortions highlighted as CryptoQuant clarifies that previous “whale accumulation” trends were influenced by exchanges consolidating coins, leading to a false narrative of accumulation. Following these adjustments, findings reveal a continued decline in whale holdings. Reactions in the market stem from notable figures such as Julio Moreno, CryptoQuant’s Head of Research. Moreno emphasized that genuine accumulation trends did not exist, as previously thought, indicating significant implications for Bitcoin’s price and market structure. Market Dynamics Shift as Whale Wallets Decline Did you know? In prior cycles, a reduction in whale holdings, like the one seen in 2021-2022, often foretold price peaks and subsequent corrections. The current drop aligns with similar late-cycle market conditions. According to CoinMarketCap, Bitcoin (BTC) is currently priced at $91,291.16 with a market cap of $1.82 trillion. Over the recent 24-hour period, trading volume declined by 9.18%, indicating shifts in market activity. Bitcoin’s price increased by 0.76% over a day but decreased by 18.56% over the last 90 days. Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 16:10…

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Filed under: News - @ January 9, 2026 7:21 pm