LONDON (IT BOLTWISE) – Recent selling pressure from Bitcoin whales is typical of a late phase in the crypto market cycle, according to analysts at Glassnode. Despite the selling, there is no reason to panic as this is considered normal behavior in a bull market.
Today’s daily deals at Amazon! ˗ˋˏ$ˎˊ˗
In the world of cryptocurrencies, the movements of the so-called Bitcoin whales are always of great interest. These large investors who hold significant amounts of Bitcoin can significantly influence the market through their trading decisions. Recent data shows that some of these whales have started selling their holdings. This has caused concern among some market observers, but experts emphasize that this is typical behavior late in the crypto market cycle.
Analysts at Glassnode have noted that the monthly average volume of Bitcoin sold by long-term holders has increased to around 26,000 from over 12,000 per day in July. This even distribution suggests that this is not a sudden dumping of holdings, but rather normal behavior in a bull market. Analysts argue that such sales indicate late-cycle profit-taking rather than a sudden whale escape.
Vincent Liu of Kronos Research explains that whale selling is part of a structured cycle flow and should not be interpreted as a panic reaction. As long as there are buyers taking up the new supply, a late cycle does not necessarily mean the market has peaked. Liu points out that while market sentiment is currently marked by uncertainty, this does not mean the end of the upside potential.
Charlie Sherry of BTC Markets adds that whale selling is typically not significant if there are enough buyers to take up the offer. However, there is currently a lack of buy-side support, raising questions about whether the market may have peaked. Historically, market peaks occur approximately every four years, but Sherry emphasizes that the four-year cycle is not infallible and the dynamics of the Bitcoin market continue to evolve.
Order an Amazon credit card without an annual fee with a credit limit of 2,000 euros!
Bestseller No. 1 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 2 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 3 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 4 ᵃ⤻ᶻ “KI Gadgets”
Bestseller No. 5 ᵃ⤻ᶻ “KI Gadgets”
Please send any additions and information to the editorial team by email to de-info[at]it-boltwise.de. Since we cannot rule out AI hallucinations, which rarely occur with AI-generated news and content, we ask you to contact us via email and inform us in the event of false statements or misinformation. Please don’t forget to include the article headline in the email: “Sell Bitcoin whales: no need to panic”.