Bitcoin Sell-Off Intensifies as Whales Move to Exchanges

Bitcoin has declined approximately 46% from its October 2023 peak, entering a pronounced correction phase. According to data from CryptoQuant, large holders (often referred to as 'whales') are increasingly depositing BTC to exchanges, a pattern historically associated with selling pressure. This on-chain activity suggests institutional and major retail investors may be taking profits or reducing exposure amid the downturn, contributing to the asset's downward momentum.

The sustained transfer of coins to exchanges typically precedes or coincides with price declines, as it increases immediate sell-side liquidity. While this signals near-term bearish sentiment among key market participants, such capitulation events can also lay the groundwork for potential market stabilization. Analysts monitor these flows closely, as exhaustion in whale selling could indicate a local bottom, though broader macroeconomic factors and regulatory developments remain critical to Bitcoin's medium-term trajectory.

Read full article on Decrypt