Whales Spill the Beans: 25,740 BTC Sold in 7 Days, But What’s the Catch?

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It appears that the Bitcoin whales have finally decided to cash in their chips, selling a whopping 25,740 BTC in the last seven days. Ah, but, dear reader, there’s a catch, as one would expect from these sly creatures. According to a recent update from IntoTheBlock, these large holders have offloaded their precious coins onto the Bitcoin market. 🐳

Whales cash out as retail investors step in

It seems that these whales, who held between 10,000 BTC and 100,000 BTC, took advantage of the recent price movement to sell off part of their holdings. One can only imagine their gleeful faces as they watched their stash dwindle. Their actions probably contributed to the ongoing market dip, with some whales waking up after three years to offload their stash on the Binance exchange. Talk about a slumber party! 😴

Interestingly, despite the huge sell-off by some Bitcoin whales, on-chain data indicates that the number of addresses accumulating Bitcoin is larger than those selling. Ah, the eternal optimists! 🌞

Addresses holding between 10k and 100k BTC were the primary sellers during this dip, offloading 25,740 BTC in the last 7 days.

Despite this, overall on-chain data shows a net accumulation across Bitcoin addresses, indicating that many traders are using the lower prices to add…

— IntoTheBlock (@intotheblock) February 26, 2025

Analysts suggest that the data implies retail investors see this as an advantage to purchase BTC at lower prices. These include those who may likely sell when market value rises in a bid to make a profit. Ah, the classic game of market manipulation! 🎲

Additionally, it reveals that market participants are still bullish on the world’s leading digital currency, not minding the current price volatility. One can only assume they’re either incredibly confident or utterly clueless. 😂

Bitcoin’s Price Remains Volatile, But Sentiment Holds

As of this writing, Bitcoin price was changing hands at $88,365.61, a 0.73% decline in the last 24 hours. BTC had traded lower in earlier market movements, hitting a low of $86,008.23. The fluctuation has made the Bitcoin market largely volatile. One would think they’d have a better handle on this by now… 🤯

The Bitcoin market activity aligns with insights shared by Ki Young Ju, CryptoQuant CEO on the asset’s price movement. According to Young Ju, despite the prevailing price drop, Bitcoin remains in a bullish cycle. Ah, the eternal optimist! 🌞

He believes that even if the value of BTC drops to $77,000, it would not necessarily mean that the coin has slipped into the bearish market. Rather, he noted that Bitcoin is still experiencing price correction. One can only assume he’s trying to reassure us, but it’s hard to shake off the feeling that he’s just trying to spin a yarn. 🌳

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2025-02-26 17:45