Bitcoin Whales Cut Holdings by 188K BTC as Selling Pressure Builds

Bitcoin (BTC) is approaching a pivotal technical test as on-chain data points to a meaningful change in large-holder behavior. CryptoQuant data shows wallets holding 1,000–10,000 BTC have shifted from accumulation to net selling. Over the past 12 months, these whale cohorts have reduced holdings by 188,000 BTC, reversing the 2024 buildup when they added more than 200,000 BTC. The 365-day trend suggests the move reflects a broader distribution phase rather than short-term noise. Exchange-flow signals are also turning heavier. CryptoQuant indicates a sharp jump in active addresses sending BTC to exchanges over recent days, led by short-term holders and traders. Rising exchange deposits typically increase near-term supply available to sell. Selling is not confined to whale wallets. Mining firm Riot Platforms recently sold an additional 500 BTC, valued at roughly $34.13 million, adding to circulating supply and reinforcing downside pressure alongside whale distribution. Spot markets are now focused on a key demand zone between $62,000 and $65,000, an area that has acted as support in recent sessions. Holding this range could help absorb the supply overhang and keep the broader bullish structure intact. A clean break below would suggest sell pressure has overwhelmed demand and could open the door to a deeper correction. Final Summary: Whale holdings are down 188,000 BTC, pointing to a structural shift toward distribution. With miners and large holders contributing to supply, the $62,000–$65,000 zone has become the market's key support level.