Summary
- Bitcoin whales, some of whom have held BTC for over a decade, have begun selling this year.
- A significant sale from a Satoshi-era holder amounted to $9 billion in Bitcoin.
- These sales have induced downward pressure on Bitcoin’s value.
This year marked a pivotal moment for Bitcoin whales, as the price of the leading cryptocurrency reached unprecedented heights and seasoned holders began to cash in billions.
Sales from long-term “HODLers” commenced after Bitcoin hit the anticipated $100,000 mark for the first time in December 2024. Following a brief pause, whales resumed selling in the summer and October, as indicated by blockchain statistics, contributing to declining prices.
CryptoQuant analyst J.A. Maartun remarked, “This year witnessed an unprecedented volume of Bitcoin changing hands. I refer to this as the ‘great redistribution,’ where Bitcoin held by long-term investors has been passed to new owners in several waves.”
Motivations for Selling
Whales began shifting their assets after BTC reached the long-awaited $100,000 mark, according to experts. After holding for over a decade, many early investors were eager to capitalize on substantial gains.
This selling trend has typically occurred during price surges. “The first wave happened in late 2024 and early 2025, with subsequent waves in July and November,” Maartun noted. “ETF demand helped balance supply and demand, with prices increasing during the initial two waves.”
