Whales Sold $60 Billion Worth of Bitcoin: Could This Trigger a Crash to $60,000?
Whale selling of $60 billion in Bitcoin contrasts with HODLing by smaller holders, potentially leading to a price crash toward $60,000.Summary
Bitcoin is currently consolidating between $65,000 and $70,000, showing balanced pressure between buyers and sellers. On-chain data indicates that younger holders (one to three months) are maturing into longer-term cohorts, suggesting reduced short-term selling and improved holder resilience.
However, large holders, or whales, have moved approximately 900,000 BTC, valued at $60 billion, since February 13, signaling potential position exits. Persistent whale selling could introduce supply shocks, weaken bullish momentum, and increase the probability of a correction.
If whale distribution continues, a breakdown below the current symmetrical triangle support could send Bitcoin toward $64,142, potentially exposing it to a decline toward $60,000. Conversely, if selling pressure subsides and demand returns, a breakout above $71,963 could restore bullish momentum.
(Source：BeInCrypto)