Bitcoin Whales Scale Back: Average Holdings Hit Seven-Year Low

On-chain data shows Bitcoin whales now hold just 488 BTC each. Lowest since December 2018. Kind of worrying for price outlook.

Whales Shrinking Their Bitcoin Stash

Glassnode analysis shared on social media reveals something interesting. Bitcoin whales—those holding between 100 and 10,000 BTC—are cutting back. Big time. These accounts manage roughly $5.5 million to $550 million in Bitcoin. That's a lot.

These players move markets. They matter.

Total whale holdings tell one story. Average holdings tell another. The average gives us a clearer picture of typical whale behavior without the biggest players skewing everything.

The numbers peaked early 2022. Then fell. Bears took over. Whales got scared, it seems. They sold.

Bitcoin recovered in 2023. Whales started buying again. Slowly though. Not like before. This continued until mid-2024. Then something changed.

The weird part? When prices went up, whales sold more. Not entirely clear why. The late 2024 rally saw major selling from these big investors.

Now we're at 488 BTC per whale. Seven-year low. Major players don't seem confident.

Ethereum's Mega Whales Dance to a Different Beat

Ethereum whales? Different story. The really big ones—those with over 10,000 ETH (about $22.3 million)—actually bought during the recent price jump. They've stopped now. Their 30-day balance change sits at zero.

BTC Price Update

Bitcoin trades around $55,000 right now. Pretty stable lately.