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Bitcoin whales go into hiding

Amid the turbulence surrounding the Bitcoin price, major investors have reduced their wallet holdings.

By Mike Hesp
• 1 min read
Bitcoin whales go into hiding

Amid the turbulence surrounding the Bitcoin price, major investors have reduced their wallet holdings.

According to data from on-chain platform Santiment, wallets holding ten or more Bitcoin have sold 6,813 BTC in the past week. At current rates, that amounts to a value of more than half a billion dollars.

This is the biggest selling wave since July last year. According to Santiment, there is often a correlation between the behavior of whales and price movements. Selling activity often coincides with broader corrections, while an accumulation of Bitcoin by whales often signals an uptrend.

On February 28, the Bitcoin price fell below the $80,000 mark for the first time since November 2024.

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