On-chain data shows that large holders have continued accumulating during Bitcoin’s current pullback of around 24%. CryptoQuant’s on-chain analysis shows that whale wallets holding more than 1,000 BTC added a combined approximately 47,000 BTC during this downturn, including around 43,700 BTC accumulated by wallets holding between 1,000 and 10,000 BTC. Meanwhile, mid-sized wallets have been selling: wallets holding 100 to 1,000 BTC sold approximately 50,500 BTC, while those holding 10 to 100 BTC sold approximately 14,400 BTC. CryptoQuant noted that Bitcoin’s apparent demand over the past 30 days fell to around -284,000 BTC, its weakest level since April 2025. Net realized losses were recorded on 14 of the 16 days since October 29, totaling approximately 84,000 BTC. Selling pressure from short-term holders, ETFs, and mid-sized wallets has exceeded the buying capacity of whales. (Source: CryptoQuant, ChainCatcher/KuCoin, November 15)
$BTC $ETH