BTC Whales Sell Off: Average Holdings Drop to Five-Year Low

A significant shift in the cryptocurrency market has been witnessed with bitcoin whales selling off substantial holdings, dropping to levels not seen since 2018. Glassnode, a respected on-chain analytics firm, reports that average holdings of addresses classified as ‘whales’— those holding between 100 and 10,000 BTC—have been steadily declining. This trend began in late 2023 and has reached a new milestone; the average holdings now stand at just 488 BTC, marking a significant departure from previous levels. This dramatic decrease in bitcoin whale holdings could signal a strategic re-evaluation or a change in market dynamics.