Bitcoin Whale Exodus: $1.9 Billion Sell-Off Triggers Market Correction Below $111,000

In a dramatic shift from the sustained accumulation pattern observed since late August, Bitcoin's large holders have initiated a significant distribution phase, offloading 17,554 BTC worth approximately $1.9 billion between October 12-14, 2025. This substantial sell-off by the 10-10,000 BTC cohort, comprising sophisticated investors commonly referred to as sharks and whales, has driven Bitcoin's price below the $111,000 threshold according to Santiment's latest on-chain data. The three-day selling spree represents one of the most notable profit-taking events in recent months, signaling a potential short-term market correction as these influential market participants capitalize on gains accumulated during the previous bullish trend. Market analysts are closely monitoring whether this distribution phase indicates a temporary consolidation or the beginning of a more prolonged downward trajectory. The timing of this sell-off is particularly significant given the sustained accumulation trend that had dominated market behavior since late August, suggesting that whales may be repositioning their portfolios in anticipation of upcoming market developments or regulatory changes. The $1.9 billion liquidation represents one of the largest coordinated sell-offs by large holders this year, potentially creating buying opportunities for retail investors and smaller institutions at lower price points. This development underscores the continued influence of whale activity on Bitcoin's price dynamics and market sentiment, reminding participants that despite the cryptocurrency's maturation, large holder movements remain a critical factor in short-to-medium term price action. The market will be watching closely to see if this distribution phase continues or if accumulation resumes, providing important signals for Bitcoin's price direction heading into the final months of 2025.

Bitcoin Whales Trigger Market Decline with $1.9 Billion Sell-Off

Bitcoin's price slipped below $111,000 as large holders unloaded 17,554 BTC over three days, according to Santiment's on-chain data. The sell-off marks a reversal from the accumulation trend observed since late August.

The 10-10,000 BTC cohort, encompassing sharks and whales, reduced their holdings by approximately $1.9 billion between October 12-14. This distribution phase suggests profit-taking among sophisticated investors during Bitcoin's recent rally.

Market dynamics shifted noticeably as these key players began offloading positions. The supply distribution metric had previously shown consistent growth, indicating accumulation during the preceding seven-week period.

Bitcoin Sentiment Deeply Divided as October Volatility Erodes Bullish Momentum

Polymarket traders assign just a 34% probability that Bitcoin will close October below $100,000, while bets on a surge above $130,000 languish below 10%. The fragmented outlook follows a turbulent start to what many anticipated would be a banner month for crypto bulls.

Bitcoin's 'Uptober' rally faltered abruptly last Friday as geopolitical tensions triggered a $17,000 plunge. The selloff accelerated after former President TRUMP threatened sweeping tariffs on Chinese goods, with BTC tumbling from $121,000 to $104,000 within hours. Whale activity compounded the pressure - one trader placed a $192 million short position as prices cratered.

The crypto downturn coincided with gold's ascent to record highs above $4,300, highlighting a stark divergence in haven asset performance. "Capital is clearly favoring gold's momentum and stability," noted Fundstrat's Sean Farrell, pointing to central bank accumulation as a structural advantage lacking in crypto markets.

Bitcoin Options Expiry Looms as Markets Remain Bearish

Approximately 44,000 bitcoin options contracts, valued at $4.8 billion, are set to expire today. Despite the sizable expiry, spot markets are unlikely to see significant impact, continuing their downward trend this week. The put/call ratio of 0.83 indicates slightly more long contracts expiring, with max pain around $116,000.

Open interest remains concentrated at higher strike prices, with $140,000 leading at $2.2 billion on Deribit. Short sellers have targeted lower levels, with $110k, $108k, and $95k seeing over $1.3 billion in open interest each. Total BTC options OI across exchanges nears an all-time high at $61 billion.

Market sentiment has turned increasingly bearish as skew deepens into negative territory. Demand for downside protection rises, reflecting growing caution among traders. The macroeconomic backdrop—marked by US government shutdown risks and trade tensions—contrasts with the longer-term bullish case for crypto fueled by anticipated liquidity injections and rate cuts.

Bitcoin Extends Losses Below $109K Amid Global Risk Aversion

Bitcoin's decline accelerated Friday, slipping below $109,000 as risk-off sentiment swept global markets. The cryptocurrency last traded 2.4% lower at $108,503, extending its weekly loss beyond 10%. This downturn mirrors weakness in equities and strength in haven assets like gold, which hit record levels.

Asian stocks followed Wall Street's retreat after fresh credit concerns emerged among US regional banks. Trade tensions between Washington and Beijing further dampened sentiment, with China rejecting US calls to ease rare earth export controls.

The selloff marks a sharp reversal from Bitcoin's October 6 record high of $126,000. Over $19 billion in liquidations compounded the pressure, with altcoins suffering particularly heavy losses. Market participants now watch whether $108,000 support will hold as the correction enters its second week.

Florida Lawmakers Propose Bitcoin Reserve Strategy in 2026 Legislative Session

Florida legislators have introduced House Bill 183, a groundbreaking proposal that WOULD authorize the state to allocate 10% of specific public funds—including the General Revenue Fund and Budget Stabilization Fund—into Bitcoin and Bitcoin ETFs. The bill, filed during the 2026 legislative session, also extends similar allocation guidelines to the state’s retirement system, albeit with certain limitations.

Former Florida CFO Jimmy Patronis, who previously advocated for Bitcoin inclusion in pension funds, likened the cryptocurrency to 'digital gold,' emphasizing its potential to diversify the state’s portfolio. The legislation mandates strict custody safeguards, requiring the state’s chief financial officer to manage crypto holdings through qualified custodians while adhering to federal compliance standards.

If passed, the bill would mark a significant step toward institutional adoption of Bitcoin, reinforcing its role as a strategic reserve asset. The MOVE aligns with growing trends of public entities exploring digital assets as part of long-term treasury management strategies.

Bitcoin Advocates Push Signal to Integrate BTC Payments via Cashu Protocol

Jack Dorsey and a coalition of Bitcoin proponents are spearheading a campaign urging encrypted messaging app Signal to adopt Bitcoin payments. The initiative, dubbed "Bitcoin for Signal," argues that integrating BTC through Cashu's Chaumian eCash protocol would align with Signal's privacy ethos while fostering financial independence.

The proposal leverages Cashu's technology to enable private, borderless transactions directly within Signal's secure environment. Supporters highlight the elimination of banking intermediaries and the potential for microdonations as key benefits. Dorsey amplified the message by reposting Cashu's announcement with a clear endorsement: "@signalapp should use Bitcoin."

Signal currently relies on donor funding, and advocates contend Bitcoin integration could create sustainable monetization through in-app tipping. The campaign positions this as a natural evolution for an app already trusted by millions for secure communication.