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Breaking News: OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity
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Breaking News: OG Bitcoin Whales Dumping Assets: Chart Reveals Significant Sell-Off Activity

Bitcoin Whales Sell 147,000 BTC Since August, Fastest Selloff Of Cycle

Keshav Verma
Keshav Verma
Last Updated: September 24, 2025 6:00 pm
2 mins read
Bitcoin Whales

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On-chain data shows the Bitcoin whales are selling at their fastest monthly rate of the cycle, a potential reason behind the asset’s latest decline.

Bitcoin Whale Holdings Have Significantly Dropped Over The Past Month

In a new post on X, CryptoQuant Head of Research Julio Moreno has listed a contributing factor behind the recent plunge in the Bitcoin price. The factor in question is the trend in the holdings of the whales.

Whales are defined as BTC investors carrying more than 1,000 tokens of the cryptocurrency in their wallet balance. At the current exchange rate, this cutoff converts to about $112.8 million. Thus, the only holders qualifying for the group would be those with a substantial amount of capital.

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Exchanges and mining pool wallets may technically fulfill this requirement, but they are excluded from the group because they aren’t considered “normal” network participants.

Given that the whales include some of the most influential investors in the market, their behavior can be something to keep an eye on, as it may sometimes have a direct impact on the asset’s trajectory. Even when it doesn’t, it can still be revealing about the sentiment among these humongous holders.

One way to gauge whale behavior is through their total supply. Below is the chart shared by Moreno that shows how this metric has changed over the past year.

Bitcoin Whale Holdings
The value of the metric seems to have plunged in recent days | Source: @jjcmoreno on X

As displayed in the graph, the Bitcoin whale supply saw a huge drawdown last month, indicating that the large holders participated in some significant net distribution.

The metric made some slight recovery as BTC’s spot price surged above $117,000, but the trend has quickly flipped during the last few days as the indicator has registered another sharp plunge.

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Since August 21st, whales have sold a net total of 147,000 BTC, worth a whopping $16.6 billion. This selloff has taken the 30-day change in the cohort’s supply to the largest negative value of the cycle so far.

Considering the timing of the selling, it’s possible that this is one of the reasons why Bitcoin has faced bearish price action recently. The market selloff may not be over yet, either, if the trend in the Exchange Inflow is anything to go by. As the CryptoQuant head has pointed out in another X post, the Bitcoin Exchange Inflow witnessed a surge on Tuesday.

Bitcoin Exchange Inflow
The trend in the BTC Exchange Inflow over the last few days | Source: @jjcmoreno on X

Investors generally deposit their coins in centralized exchanges when they want to participate in one of the services that they provide, which can include selling. As such, the growth in the Exchange Inflow could be a sign that holders are still trading away their Bitcoin.

BTC Price

Bitcoin slipped under $112,000 on Tuesday, but the coin has seen a slight bounce since then as its price has climbed to $113,000.

Bitcoin Price Chart
How the price of the asset has changed during the last five days | Source: BTCUSDT on TradingView
Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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