Bitcoin Whales Dump Billions – Is This the End of the Bull Run? CryptoQuant Sounds Alarm
Whales are cashing out—hard. CryptoQuant's latest data shows Bitcoin's mega-holders offloading billions, sparking panic about a market top. But before you liquidate your stack: remember these are the same players who rug-pulled retail during the last cycle.
Key takeaways:
- Whale wallets hemorrhage BTC at levels not seen since 2021
- Exchange inflows spike as OGs take profits
- Derivatives markets flash warning signs—but not capitulation yet
Pro tip: When Wall Street 'advisors' suddenly start tweeting 'BTC = digital gold' again, that's your exit signal. The real bull run starts when they're forced to buy back higher.
The crypto market is never quiet for long and Bitcoin is once again at a turning point. After slipping below $100,000, on-chain data from CryptoQuant shows that major holders, or whales, are offloading billions in BTC.
With institutional demand cooling, investors are now wondering: is this just a pause before the next leg up, or the first sign that the bull run is losing steam?
Whales Offload Billions After $100K Drop
In a tweet post, CryptoQuant founder Ki Young Ju explained that large Bitcoin holders, often called “whales,” have sold off billions worth of BTC since prices crossed the $100,000 mark.
Such activity has created a supply overhang, meaning there’s more bitcoin available on the market than buyers are ready to absorb. This typically adds downward pressure on prices and marks the “distribution phase” in market cycles.
Earlier this year, Ju warned that the 2024–2025 bull run might have already peaked. However, strong spot Bitcoin ETF inflows and continued buying by MicroStrategy helped stabilize the market and delay a deeper pullback.
These factors served as key supports, preventing the market from slipping into bearish territory.
Warning Signs Are Reappearing
Now, Ju believes the continuation of ETF inflows is crucial. As inflows begin to slow and MicroStrategy’s buying pace eases, the market could face renewed selling pressure. He cautioned that if these supports fade, “sellers will dominate again.”
On-chain data appears to back this up, showing increased whale transactions and a drop in stablecoin inflows, both typical signs of a market cooldown.
At the same time, JAN3 CEO Samson Mow said the latest pullback is also driven by short-term investors taking profits after earning 20–30% gains, a normal correction phase in any bull cycle.
$111,700 Becomes Key Level to Watch
Over the coming weeks, Bitcoin’s next MOVE will be crucial. Analysts believe the $111,700 zone is the key level to watch, a decisive point that could determine whether BTC climbs higher or enters a longer correction.
As of now, Bitcoin is trading around $105,448, down slightly on the day but with trading volume up slightly, showing that the battle between buyers and sellers is just getting started.
