Bitcoin whale holdings dwindle to lowest levels since 2018 amid significant profit-taking
Bitcoin’s largest investors are steadily reducing their exposure, with data showing a direct link to profit-taking during the recent rally.
Glassnode reported on Sept. 3 that wallets holding between 100 and 10,000 BTC now average just 488 BTC—the lowest level since December 2018.
According to the firm, this decline marks a continuation of a trend that began in November 2024.
The shrinking balances coincide with renewed activity from dormant wallets, suggesting whales are realizing gains as prices top $100,000.
Checkonchain data shows that long-term Bitcoin holders realized between $3 billion and $4 billion during the market highs in January and July this year.
These sales show that this cohort aggressively converted their paper gains into realized profits, which directly contributed to the fall in average whale holdings.
Despite the renewed selling pressure, Bitcoin continues to trade near $110,000, showing that market demand remains strong enough to absorb the whales profit-taking.
The post Bitcoin whale holdings dwindle to lowest levels since 2018 amid significant profit-taking appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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