Decline in Bitcoin Whale Holdings, Does It Ring the Alarm?
Whale holdings (large investors) are an indicator of institutional confidence, and they have recently dropped to their lowest levels in six years, specifically to levels seen in 2019, according to the IntoTheBlock account, coinciding with their struggle to maintain momentum above the $90,000 level.
Bitcoin has experienced instability for two consecutive weeks under increasing selling pressure.
Investments from major Bitcoin holders have decreased by 85% over seven days, indicating a drop in confidence.
Whale wallets are witnessing Bitcoin sales surpassing purchases, suggesting a shift in behavior.
This decline from long-term Bitcoin holders indicates rising concerns about Bitcoin's ability to maintain its previous gains, as whale sell-offs have often been followed by larger corrections, making this trend worth monitoring.
