Whales Holding 1,000 to 10,000 BTC Record Fastest Decline in Reserves Since 2023
- Why Are Bitcoin Whales Dumping Their Holdings?
- ETF Outflows Mirror Whale Caution
- Are Exchanges Like Binance Absorbing the Sell-Off?
- Not All Whales Are Selling: Who’s Buying?
- Bitcoin Price Stalls at $90K: What’s Next?
- FAQ: Whale Movements and Bitcoin’s Future
Bitcoin whales—large holders with 1,000 to 10,000 BTC—have slashed their reserves by 220,000 BTC in the past year, marking the steepest drop since 2023. On-chain data reveals these investors are hesitant to buy the dip, signaling potential anticipation of a deeper market correction. Meanwhile, bitcoin ETFs saw $681 million in outflows last week, and Binance dominates whale deposits. Despite the sell-off, some whales are doubling down, with three wallets snapping up $280 million worth of BTC. Bitcoin currently trades at $90,667, struggling to reclaim $95K.
Why Are Bitcoin Whales Dumping Their Holdings?
Large Bitcoin investors, often called "whales," have reduced their holdings by a staggering 220,000 BTC over the past year, according to Glassnode. This group, which holds between 1,000 and 10,000 BTC, peaked at 409,000 BTC in March 2024 but has since shed nearly 50% of that volume. The sell-off accelerated in early 2026, with on-chain analytics suggesting whales are bracing for a sharper downturn. "They’re not buying the dip—they’re preparing for stormy weather," notes the BTCC research team.
ETF Outflows Mirror Whale Caution
Spot Bitcoin ETFs mirrored the whales’ skepticism, bleeding $681 million last week alone. January 7 was the worst day, with $486 million in outflows. Despite a $697 million inflow on Monday, the trend remained negative. December 2025 was even grimmer, with net outflows exceeding $1 billion. "ETFs are a proxy for institutional sentiment, and right now, it’s bearish," says Julio Moreno of CryptoQuant. Data from TradingView shows BTC’s price has stalled below $95K after a brief rally earlier this month.
Are Exchanges Like Binance Absorbing the Sell-Off?
Binance, the world’s largest crypto exchange by volume, has become the epicenter of whale activity. Cryptoquant reports a surge in BTC deposits, with a January average of 22,810 BTC—the highest in two years. Whale influence on exchanges hit a 10-month high, often a precursor to selling pressure. Notably, 71% of stablecoin deposits and significant BTC inflows landed on Binance. "When whales move to exchanges, it’s usually to cash out," observes an analyst from BTCC.
Not All Whales Are Selling: Who’s Buying?
Three anonymous wallets bucked the trend, purchasing 3,000 BTC ($280 million) on January 7. Santiment data suggests renewed Optimism above $90K, but the broader whale cohort remains wary. The Coin Bureau highlights that new institutional buyers are entering at higher prices, skipping waits for deeper corrections. "This isn’t 2021—today’s whales are playing a longer game," their report concludes.
Bitcoin Price Stalls at $90K: What’s Next?
BTC hovers at $90,667 (per CoinMarketCap), up 1.12% in 24 hours but well below its January 5 high of $95K. Analysts are split: some see consolidation before a breakout, while others warn of a drop to $85K if whale selling persists. Historical data from TradingView shows similar whale behavior preceded the 2025 30% correction. "The market’s at a crossroads," says the BTCC team. "Watch the $88K support level."
FAQ: Whale Movements and Bitcoin’s Future
How much BTC have whales sold since 2023?
Whales holding 1,000–10,000 BTC sold 220,000 BTC over the past year, per Glassnode.
Why are Bitcoin ETFs seeing outflows?
Spot BTC ETFs recorded $681 million in outflows last week, reflecting institutional caution amid market uncertainty.
Is Binance the main hub for whale activity?
Yes, Binance handles 71% of stablecoin deposits and significant BTC inflows, per Cryptoquant.
