Whales added 47,000 BTC amid the selloff — but mid-sized holders sold even more.
Key figures:
• Wallets holding 1,000 BTC or more added ~47,000 BTC during this downturn (about 24%, according to CryptoQuant, Nov. 14); the 1,000–10,000 BTC cohort alone added 43,700.
• Holders with 10–1,000 BTC, on the other hand, offloaded ~64,900 BTC over the same period (100–1,000 BTC: −50,500; 10–100 BTC: −14,400).
• 30-day apparent demand fell to −284,000 BTC, its weakest level since April 2025; 14 of the 16 days since Oct. 29 recorded net realized losses, totaling ~84,000 BTC.
My take: whales are absorbing supply, but selling pressure from mid-sized holders, short-term holders, and ETFs is moving faster — whale absorption can't keep up with the outflows. An honest caveat: changes in wallet balances don't prove that all those coins were bought on the open market.
What I'm watching next: whether whales keep adding while BTC is below $65,000 (currently around $63,500), and whether 30-day demand stops deteriorating.
What do you think: is this whale accumulation the start of a bottom forming — or just a pause before the next leg down?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #OnChain $BTC
Key figures:
• Wallets holding 1,000 BTC or more added ~47,000 BTC during this downturn (about 24%, according to CryptoQuant, Nov. 14); the 1,000–10,000 BTC cohort alone added 43,700.
• Holders with 10–1,000 BTC, on the other hand, offloaded ~64,900 BTC over the same period (100–1,000 BTC: −50,500; 10–100 BTC: −14,400).
• 30-day apparent demand fell to −284,000 BTC, its weakest level since April 2025; 14 of the 16 days since Oct. 29 recorded net realized losses, totaling ~84,000 BTC.
My take: whales are absorbing supply, but selling pressure from mid-sized holders, short-term holders, and ETFs is moving faster — whale absorption can't keep up with the outflows. An honest caveat: changes in wallet balances don't prove that all those coins were bought on the open market.
What I'm watching next: whether whales keep adding while BTC is below $65,000 (currently around $63,500), and whether 30-day demand stops deteriorating.
What do you think: is this whale accumulation the start of a bottom forming — or just a pause before the next leg down?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #OnChain $BTC