Bitcoin Whale Holdings Plummet to 2018 Lows as Massive Profit-Taking Accelerates

Whales are cashing out—big time. Bitcoin's largest holders just slashed their positions to levels not seen since the crypto winter of 2018, triggering market-wide chatter about what's next.

Profit-taking frenzy

Major players are locking in gains after the recent rally, draining billions from whale wallets in a classic 'buy low, sell high' maneuver. The move signals confidence in taking profits now rather than waiting for new peaks.

Market impact and speculation

This sell-off creates short-term pressure but historically precedes renewed institutional interest. Some analysts call it healthy profit recycling—others see nerves kicking in before potential volatility.

Same old Wall Street playbook, just with digital assets—take profits, shake out weak hands, then reload when everyone's panicking. Typical.

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.