Bitcoin Whales Transfer 60,000 BTC to Exchanges, Sparking Sell Pressure

In the volatile world of cryptocurrencies, the past month has seen a significant movement of Bitcoin, with whales, or large investors, transferring over 60,000 BTC to exchanges. This substantial shift has sparked concern among market participants, as it indicates a potential increase in selling pressure.

The crypto market has been experiencing mixed trading, with prices moving sideways for the second consecutive week. Retail and institutional players have reacted differently to the market dip, with the latter making market-swinging sales. Meanwhile, United States foreign policies have also affected the market, despite initial expectations that they would spur market growth during Donald Trump’s second term.

Bitcoin whales have transferred 60,000 BTC to exchanges in the last 30 days, heightening sell pressure. This follows a period of shaky U.S. tech stocks, which has sparked bear sentiments in crypto assets. Bitcoin price sank below $100K after the launch of Chinese AI startup DeepSeek and has struggled to find its previous momentum.

As confidence plummeted further with Trump’s new tariffs, whales began moving assets to prevent losses gained in previous months. Last year, institutional inflow and whale accumulations spiked the asset’s price above $100k with an expected run to $150K this year. These recent outflows have slowed mainstream adoption, lowering sentiments as seen in a drop in the fear and greed index. The market reaction shows fear as multiple assets dipped below previous support levels.

Bitcoin whales dominate the market, and huge sales for large groups result in a plunge in the fear and greed index. Centralized exchange and whale balances are closely monitored to determine the next market direction. Despite these bear factors, investors bought the dip looking for good entry positions ahead of a rebound.

The nosedive affected Bitcoin, altcoins, meme tokens, and decentralized finance (DeFi) numbers. Declined volumes negatively impacted the market, leading to a crash in crypto prices. The wider market capitalization dropped from $3.5 trillion to $3.1 trillion, wiping out billions. Bitcoin price trades at $97,746, down 4% in the last seven days while altcoins recorded higher exits.

However, spot Bitcoin ETFs, which have attracted over $40 billion, dominating the financial markets, are a lifeline to BTC price