Whales Holding 1,000–10,000 BTC Record Fastest Decline in Holdings Since 2023: What’s Driving the Sell-Off?

• Why Are Bitcoin Whales Dumping Their Holdings?
• ETF Outflows and Exchange Inflows: A Double Whammy
• Are All Whales Selling? Not Quite.
• Market Impact: BTC Price Stalls at $90K
• FAQs: Whale Movements Decoded

Bitcoin whales (holders of 1,000–10,000 BTC) have slashed their holdings by 220,000 BTC in the past year—the steepest drop since 2023. Data suggests these large investors are bracing for deeper market corrections, with exchange inflows spiking and ETF outflows hitting $681M last week. Meanwhile, Binance dominates whale deposits, and a split emerges: some whales cash out while others buy dips. Here’s the full breakdown.

Why Are Bitcoin Whales Dumping Their Holdings?

Glassnode data reveals that addresses holding 1,000–10,000 BTC reduced their cumulative stash by 220,000 BTC over the past year, plummeting from a peak of 409,000 BTC in March 2024. This marks the most aggressive sell-off since early 2023. Analysts speculate whales are hedging against potential downside, especially after BTC’s failed attempts to breach $95,000 in January 2026. "They’re not buying the dip—they’re preparing for stormy weather," notes the BTCC research team.

ETF Outflows and Exchange Inflows: A Double Whammy

Spot bitcoin ETFs mirrored whale skepticism, bleeding $681.01M last week alone. January 7 was the worst day, with $486M in outflows. Despite a $697.25M inflow on Monday, December’s net outflows exceeded $1B. Meanwhile, whale deposits on exchanges like Binance surged, hitting a 10-month high. CryptoQuant data shows Binance absorbed 71% of stablecoin deposits, with BTC inflows averaging 22.81 daily in January—a red flag for sell pressure.

Are All Whales Selling? Not Quite.

Three wallets snapped up 3,000 BTC ($280M) on January 7, per Santiment. "This divergence shows whales are split—some see blood in the water, others see opportunity," says a BTCC analyst. Coin Bureau adds that new institutional investors are entering at elevated prices, absorbing supply without waiting for deeper corrections.

Market Impact: BTC Price Stalls at $90K

Bitcoin currently trades at $90,667 (CoinMarketCap), up 1.12% in 24 hours but struggling to reclaim January 5’s $95,000 high. The whale exchange ratio (0.504) signals caution, echoing 2025’s pre-crash patterns. "When whales MOVE this fast, retail should pay attention," warns Julio Moreno of CryptoQuant.

FAQs: Whale Movements Decoded

How much BTC have whales sold in 2026?

Whales dumped 220,000 BTC over the past year, with accelerated selling in January 2026.

Which exchange dominates whale activity?

Binance handles 71% of stablecoin deposits and most BTC whale transactions.

Are ETFs amplifying the sell-off?

Yes—spot Bitcoin ETFs saw $681M in outflows last week, compounding whale-driven pressure.