CryptoQuant CEO Ki Young Ju has revealed that large Bitcoin (BTC) holders have been withdrawing billions of dollars since the cryptocurrency surpassed $100,000. Despite recent price gains driven by hopes of a US government shutdown resolution, the price has dropped about 2% to $103,400 within 24 hours. This selloff is raising concerns among market observers who have highlighted heavy selling pressure from whale investors. While Bitcoin experienced its peak at over $107,400 on Tuesday, a closer look reveals that several whales are dumping large amounts of BTC since it reached this milestone price level. [Source: CryptoQuant] Data from prominent analysts like Charles Edwards and Santiment further corroborates Ju’s claim with data pointing to significant sales exceeding hundreds of millions of dollars, particularly after the $100,000 mark. While some suggest a potential bear market could be on its way, others see opportunities for long-term investors, especially considering institutional buying and ETF inflows are offsetting the bearish sentiment. Ki Young Ju is not alone in his prediction as a notable Bitcoin wallet reportedly sold 11,000 BTC on November 12 after holding it for 15 years. This sell-off adds to the already existing selling pressure, but crypto analyst Moreno sees an opportunity for potential buying opportunities in the current market conditions.