A new wave of whale selling has hit the Bitcoin market, with large holders reducing their positions to levels not seen in over six years.
Data from Glassnode, highlighted by Bitcoin Archive, shows that average balances for entities holding between 100 and 10,000 BTC have dropped to 488 BTC per wallet – the lowest since 2018.
Whales cashing in
The decline signals that major holders are actively taking profits after Bitcoin’s recent rallies. Historically, whale distribution has often preceded consolidation phases, as profit-taking from large investors temporarily weighs on price momentum. Despite this, Bitcoin’s price has remained resilient near the $100,000–$110,000 range, showing strong underlying demand.
A setup for the next leg higher?
Bitcoin Archive suggested that the current selling does not necessarily spell long-term weakness. Instead, once whales complete their distribution cycle, the market could see a renewed “melt-up” – a sharp rally fueled by liquidity and reduced selling pressure.
This pattern has played out in previous cycles: whales trim exposure into strength, smaller investors absorb supply, and Bitcoin resumes its upward trend once profit-taking eases.
Market implications
The timing of this whale distribution coincides with rising global liquidity and safe-haven flows into assets like gold, leaving investors debating whether Bitcoin will follow with another breakout. While whale selling may cap short-term upside, analysts argue it could also set the stage for a healthier rally once the market digests the supply.
With whale balances at their lowest since 2018, the market is entering a critical phase: either sustained selling sparks a deeper correction, or the reduction in overhead supply clears the path for Bitcoin’s next parabolic leg.
