Whale selling pressure that has suppressed Bitcoin prices is abating, removing a key source of downward price pressure
Too little corroboration in the last 3 days to call a trend (1 article). Watching for it to gain traction.
Large Bitcoin holders — those controlling 1,000 BTC or more — have offloaded over $40 billion worth of Bitcoin since the most recent price peak, acting as a persistent ceiling on price recovery. Analysts now suggest this wave of distribution is losing momentum, which removes one of the more measurable sources of sustained selling pressure from the market.
When the largest holders shift from net selling to holding or accumulating, the supply available to absorb new demand shrinks, which historically creates conditions where even modest increases in buying interest can produce outsized price moves.
"So-called whales—who typically hold 1,000 Bitcoin or more—have sold more than $40 billion worth of Bitcoin since the digital asset's price peaked last year, Butterfill said. He noted that the source of negative price pressure has abated as of late."