Bitcoin whales have quietly sold huge amounts of cryptocurrency in the past two weeks. In just a few days, investors holding 10,000-100,000 BTC have sold or redistributed about 36,500 BTC, a total of about $3.4 billion. This group includes facility supervisors and early miners who have held their positions for several years. The 12 days of sales represent a sharp turn from accumulation to distribution by these whales. What is driving Bitcoin whale activity, and what does the future hold based on historical data?
Price Struggles at Key Levels
The whale activity also comes at a time when Bitcoin is struggling to maintain its position above the $92,000 mark. During the first Asian session on Friday, the cryptocurrency changed hands at $92,250, down 0.2% from previous levels. Traders are closely monitoring the $94,000 resistance level. Most of the time, Bitcoin failed to break the trendline convincingly. Interestingly, this price consolidation is happening despite Bitcoin’s growing adoption in several industries. This growing use of cryptocurrency extends beyond payments and the exchange of everyday digital entertainment. Major retailers are starting to accept crypto payments, with Bitcoin leading the charge, too best Bitcoin casinos it has become a way for users who want more than just gaming options and special bonuses, but also benefit from the speed and reliability of Bitcoin. This indicates that this near-term resistance may not reflect the real-world use of cryptocurrency.
Fed Rate Cut Adds Complexity
The latest move by the Federal Reserve adds new uncertainty to the crypto markets. The central bank cut its interest rate by 25 basis points to 3.75% on December 10. The move was the third rate cut this year after similar measures in September and October. The acceleration of the distribution of whales began when monetary policy became more effective. This combination usually favors risky assets like Bitcoin.
Liquid Fear Continues
The market also faces liquidity challenges that make prices more volatile. I the number of stablecoins entering the exchange fell sharply from August, from $158 billion to $76 billion. This is a 50% drop in four months. The 90-day moving average also shows this decline from $130 billion to $118 billion. This means that the reduced amount cannot take on large purchase provisions.
The Distribution Section appears
Market depth is weak in large trades, making it difficult to place large orders. The $88,000 to $94,000 price range, which was supposed to be an accumulation range, has become a distribution range. On the other hand, retailers are still optimistic and are buying more. These changes in market conditions are not new.
A similar whaling activity took place there Bitcoin hit a high above $108,000 on December 17, 2024. Accounts with 1,000 to 10,000 BTC sold a combined amount of 79,000 BTC, resulting in a return of 15%. The same traders later invested 34,000 BTC worth $3.2 billion when it fell below $95,000. The moves reflect a strategy over time, rather than a rush to sell.
