Data: Bitcoin whales turn from buyers to sellers in one of the most aggressive distribution cycles on record

Large Bitcoin holders with 1,000–10,000 BTC have shifted into net distribution, according to CryptoQuant. The group's one-year change in holdings has reversed sharply, moving from +200,000 BTC at the 2024 bull-market peak to -188,000 BTC today. CryptoQuant data suggest this is more than a short-term swing: the 365-day trend continues to deteriorate, pointing to a structural decline. After accumulating heavily through the 2024 rally, whales are now selling at scale, setting up what CryptoQuant describes as one of the most aggressive large-holder distribution phases on record. Separately, reports show 30-day apparent demand growth has fallen to 63,000 BTC, signalling a broad-based contraction in market demand.