Whales are buying the dip, while mid-sized wallets are selling. Who’s making the smarter move in this BTC pullback?
As BTC pulled back about 24% from its peak, on-chain holdings showed a clear divide. According to CryptoQuant, wallets holding more than 1,000 BTC accumulated a combined 47,000 BTC, with wallets holding 1,000 to 10,000 BTC accounting for 43,700 BTC. Meanwhile, wallets holding 100 to 1,000 BTC sold 50,500 BTC, and those holding 10 to 100 BTC sold 14,400 BTC. Overall, smaller and mid-sized holders sold more than whales absorbed.
During the same period, 30-day apparent demand fell to around -284,000 BTC, its weakest level since April 2025. On 14 of the 16 days since October 29, net realized losses were recorded, totaling around 84,000 BTC. CryptoQuant believes short-term holders, ETFs, and mid-sized wallets are selling faster than whales can absorb.
Scenario to watch 1: If panic selling subsides and trading volume picks up, whale accumulation could gradually become a signal of a medium-term bottom. Scenario to watch 2: If demand remains negative and mid-sized wallets continue to sell, any short-term rebound may still lack follow-through from fresh capital. Which are you watching more closely: the 47,000 BTC accumulated by whales, or the 50,500 BTC sold by mid-sized wallets?
Source: PANews
Image 1: BTC pulls back 24%: Whales accumulate 47,000 BTC, while mid-sized wallets sell even more · Screenshot from the source page
Image source: https://www.panewslab.com/zh/articles/01a1db6a-0085-7457-ab82-222f1f7c151a
As BTC pulled back about 24% from its peak, on-chain holdings showed a clear divide. According to CryptoQuant, wallets holding more than 1,000 BTC accumulated a combined 47,000 BTC, with wallets holding 1,000 to 10,000 BTC accounting for 43,700 BTC. Meanwhile, wallets holding 100 to 1,000 BTC sold 50,500 BTC, and those holding 10 to 100 BTC sold 14,400 BTC. Overall, smaller and mid-sized holders sold more than whales absorbed.
During the same period, 30-day apparent demand fell to around -284,000 BTC, its weakest level since April 2025. On 14 of the 16 days since October 29, net realized losses were recorded, totaling around 84,000 BTC. CryptoQuant believes short-term holders, ETFs, and mid-sized wallets are selling faster than whales can absorb.
Scenario to watch 1: If panic selling subsides and trading volume picks up, whale accumulation could gradually become a signal of a medium-term bottom. Scenario to watch 2: If demand remains negative and mid-sized wallets continue to sell, any short-term rebound may still lack follow-through from fresh capital. Which are you watching more closely: the 47,000 BTC accumulated by whales, or the 50,500 BTC sold by mid-sized wallets?
Source: PANews
Image 1: BTC pulls back 24%: Whales accumulate 47,000 BTC, while mid-sized wallets sell even more · Screenshot from the source page
Image source: https://www.panewslab.com/zh/articles/01a1db6a-0085-7457-ab82-222f1f7c151a
