Bitcoin Whale Sells Over 100,000 BTC in the Past 30 Days, Setting a New Record for the Largest Sell-off Since Mid-2022

BlockBeats News, September 8th, CryptoQuant analyst caueconomy stated on Friday that in the past thirty days, whale reserves (holding between 1k to 10k BTC) have decreased by over 100,000 bitcoins, indicating a strong risk-off sentiment among large investors. Currently, we are still seeing major participants reducing their portfolios, which may continue to put pressure on Bitcoin in the coming weeks.

caueconomy noted that this selling pressure "has damaged the price structure in the short term," ultimately pushing the price below $108,000. According to CryptoQuant's data, this is the largest whale sell-off since July 2022, with Bitcoin whales selling off 114,920 coins in the past 30 days as of Saturday.