Bitcoin Smashes $105K as Whales Exit and Wall Street Moves In

Digital gold just got heavier—Bitcoin rockets past $105,750, triggering a high-stakes game of musical chairs.

Whales dump bags while institutions scramble for seats—because nothing says 'trust the process' like hedge funds chasing 300% gains after a decade of skepticism.

The ultimate irony? The same suits who called it a Ponzi scheme now trade BTC futures between martini lunches.

In brief

• Whales are massively selling their bitcoins, reducing their supply by 40% since 2017.
• Profit-taking is exploding, reaching $500 million in gains per hour according to Glassnode.

Whales Have Been Massively Selling Their Bitcoins Since 2017

According to analyst Willy Woo, whales holding between 10,000 and 100,000 BTC have been. He indeed estimates that these large bitcoin holders have been selling since 2017.

The proof: over eight years, the supply held by these entities has dropped from 2.7 million to 1.6 million BTC. This represents a decrease of nearly 40%.

These long-term bitcoin holders, who acquired their tokens between $0 and $700, therefore seem to betoday. This trend marks a gradual transfer of wealth to other types of players, notably institutional investors. The latter are taking advantage of the decreased selling pressure to enter the crypto market.

Technical Signals Show Strong Profit-Taking Activity

Glassnode data published on June 3 show that the average profit per bitcoin is 16%, with.

Another fact: less than 8% of days have been more profitable than those observed recently. This confirms an intense phase of profit-taking.

The BTC price has retreated by 5.5% from its high, hovering around $105,750 on June 4. Yet the underlying trend remains bullish. Crypto experts refer tofor 27 consecutive days.

This on-chain analysis reflects a bullish cycle that is weakening, but could resume if institutional demand persists.

Whale selling pressure could therefore weigh in the short term. Nevertheless, bitcoin’s bullish momentum remains intact in the long run. Institutional investors could well be the next drivers. Especially since the majority of them plan to increase their crypto holdings. To be continued!

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