Bitcoin From late August to early September, we faced a large holder worth around $12.7 billion, as a large owner commonly known as a whale, and a large owner of over 115,000 BTC. Crypto analyst, “Cauconomy.”
This represents the largest whale distribution since mid-2022, indicating a noticeable change in large-scale Bitcoin Holdings.
CaueConomy Note:
“The trend to reduce exposure by major Bitcoin network players continues to reach the largest coin distribution this year.”
Details of the sale of whales
Recent sales came from holders with balances between 1,000 and 10,000 BTC. Between April and August, these whales had accumulated about 270,000 BTC. Over the past 30 days, they have reduced their holdings by over 100,000 BTC, reflecting analysts as an enhanced risk aversion among large investors.
The impact of short-term prices
Sales pressure affected Bitcoin’s price structure, falling below $108,000 during its heaviest distribution period. context:
- The seven-day balance change peaked at over 95,000 BTC on September 3rd.
- Due to its aggressive distribution, Bitcoin was traded in a more severe range between $110,000 and $111,000 the following day.
- The 30-day total change was 114,920 BTC, highlighting the scale of this distribution compared to previous sales.
Whale behavior and market dynamics
Cryptoquant defines a whale as a holder between 1,000 and 10,000 BTC. These players tend to influence short-term market fluctuations due to the amount of coins they manage. Analysts describe the recent sale as a form of profit-taking after months of accumulation that saw whales significantly increase their exposure to Bitcoin.
The August revision ended its four-month winning streak as Bitcoin fell 6.5% from $115,778. The 13% decline from the record high in mid-August is considered relatively shallow compared to previous pullbacks.
Slow sales pressure
Recent data shows that aggressive sales may be declining.
- As of September 6th, weekly balance changes have fallen to around 38,000 BTC.
- Bitcoin trading range has narrowed, suggesting a decline in market volatility.
- The assets are stable between $110,000 and $111,000, indicating a short-term equilibrium as whales sell slower.
This slowdown could provide temporary relief to price action, but analysts warn that key holders are still adjusting their portfolio.
Institutional purchases as counterbalances
Whale sales produced short-term volatility, but institutional accumulation helped to maintain market stability. Nick Ruck, director of LVRG Research, told Cointelegraph that corporate buyers and ETF-led demand provided a “structural offset” to whale activity.
The key points are:
- The agency’s buyers have absorbed some of the sales pressure from the whales.
- Demand for ETFs and corporate acquisitions continued with whales cuts.
- Differences between whale sales and facility shopping suggest that market resilience remains intact.
This balance suggests that while large holders may curb short-term price increases, wider demand from institutional participants could offset some of the sales pressure.
Long-term market outlook
Despite recent volatility, Bitcoin’s long-term indicators remain positive.
- The annual moving average for the year has risen from $52,000 to $94,000 over the past year.
- Monthly closures have failed since July for more than $110,000, signaling consolidation.
- The overall market correction of 13% from the mid-August high is less severe than the previous decline.
Analysts note that macroeconomic events, including future Federal Reserve decisions, could affect the next direction. A FOMC meeting scheduled within 10 days may affect market sentiment.
Meanwhile, Bitcoin could have around 27% of its upwards in its current cycle before heading towards a downtrend, says Canary Capital CEO Stephen McCrug.
Talk to CNBC On Friday, McClurg said there is more than 50% chance that Bitcoin could rise to the $140,000 range this year, and there could be another bear market followed in 2026.
Observation of the structural market
- Bitcoin maintains broader support despite short-term whale activity.
- Historical data show that sales of this scale often coincides with periods of smart money and institutional accumulation.
- Recent whale reductions can act as a reset, allowing for the formation of healthier markets over time.
To clarify the misconception: Tether Bitcoin Holdings
Meanwhile, speculations have emerged that Tether sold a significant portion of Bitcoin to buy gold. Tether CEO Paolo Ardoino It was rejected These claims say the company “didn’t sell Bitcoin” and commit to allocating profits to Bitcoin, gold and the entire land.
Analysts confirmed that the reduction reported from 92,650 BTC to 83,274 BTC in the first quarter of 2025 was due to transfers to 21 capital (XXI) rather than sales. This included 14,000 BTC in June and 5,800 BTC in July.
Conclusion
Bitcoin Zilla sells over 115,000 BTC, showing its largest distribution since July 2022. Institutional accumulation intervened to offset the impact of whale-driven volatility and helped stabilize the market.
Despite these variations, long-term averages and integrated patterns show resilience. This episode highlights how centralized holders shape short-term moves, but institutional purchases and broader foundations continue to support overall market stability.
resource:
Comment from CaueConomy: https://cryptoquant.com/insights/quicktake/68b98e1667305350a1c0c67
Canary Capital CEO Steven McClurg’s interview with CNBC: https://www.youtube.com/watch? v = quioz0hweek
Bitcoin Price Action: https://coinmarketcap.com/currencies/bitcoin/
