In August, Bitcoin Chita sold the record 115,000 BTC in the amount of $ 12.7 billion, creating pressure on cryptocurrency and causing anxiety among investors, Cryptoquant’s analysts said.
According to experts, this is the maximum outflow of coins from the wallets of large holders of the first cryptocurrency since the summer of 2023. The largest weekly outflow was recorded on September 3, when whales moved 97,000 BTC – this is the highest indicator since March 2021. However, on September 6, a weekly change in balance has decreased to 38,000 BTC, which indicates a partial reduction in aggressive sales.
“The trend of reducing the exposition by large players of the bitcoin network continues to intensify, having reached the greatest distribution of coins this year,” Cryptoquant emphasized.
Over the past month, the reserves of bitcoin kits have decreased by 100,000 BTC, which indicates that large investors are trying to avoid the risks of loss of profit.
Analysts warned that “reduction of coins in the portfolios of large players can exert pressure on bitcoin in the next few weeks.”
Earlier, Cryptoquant experts reported that the total volume of bitcoins accumulated by corporate investors reached the record 840,000 BTC in August. However, the average size of purchases and volumes of transactions collapsed to the annual minimum.
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Source: Cryptocurrency
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