Whales, the largest holders of Bitcoin (BTC), sell the most BTC ever recorded in a 30-day period. Over the past 30 days, these outlets have unloaded a total of 280,000 BTC, according to Glassnode on-chain data.
The outlets are believed to currently hold around 9 million BTC, which represents a significant portion of the total BTC supply.
- Points holding 1,000 to 10,000 BTC have 3.6 million BTC.
- Points holding 10,000 to 100,000 BTC hold 1.9 million BTC.
- Points holding 100,000 or more BTC hold 3.6 million BTC.
These large Bitcoin holders have significant market influence, and such selling activity can affect the price of BTC.
Reviewing the Trend Accumulation Unit by Cohort metric, data from on-chain Glassnode confirms that the concentration of selling pressure is coming from BTC points.
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