115,000 BTC Dumped by Whales as Institutions Scoop Up the Supply

Bitcoin giants sold 115,000 BTC, worth $12.7 billion, over the past month. CryptoQuant data shows these large holders moved 95,000 BTC in a single week, the highest since March 2021.

Their sales pushed Bitcoin down 13 percent from its August peak below $108,000. One whale sold 24,000 BTC in one day, triggering a flash crash that liquidated $500 million in leveraged positions.

Another rotated $4 billion of Bitcoin into Ethereum. Despite this, the first whale still holds over 150,000 BTC. Institutions absorbed much of the supply. Corporate Bitcoin treasuries now exceed $400 billion across 312 entities.

MicroStrategy leads with 632,000 BTC, and BlackRock’s ETF holds 746,000 BTC. These buyers added over 50,000 BTC during the sell-off, helping stabilize prices.

September often proves weak for Bitcoin, with an average drop of 3.8 percent since 2013 as investors rebalance and harvest tax losses. Yet Bitcoin’s one-year moving average rose from $52,000 last September to $94,000 today, underscoring long-term growth.

Analysts pinpoint support between $100,000 and $104,000, anchored by the 200-day moving average at $101,366. Short-term holders’ realized price at $91,000 and the 111-day average at $95,000 add strength.

Once whales finish selling, some strategists expect Bitcoin to rally toward $150,000. This shift marks a key change: early adopters cash out as institutions build positions, paving the way for a more stable market ahead.