Bitcoin Whales Continue To Sell—Here's What It Means For The Bull Market

Core Insights - Bitcoin (BTC) has experienced a 16% decline over the past month, primarily due to selling from long-term holders to smaller retail traders and institutions [1] - The transfer of BTC from veteran holders to new investors marks the largest-ever on-chain movement, indicating a significant supply rotation in the market [2][3] - New investors entering the market may lack experience with Bitcoin's volatility, raising concerns about potential panic selling in the event of a downturn [3] Market Dynamics - A notable whale has sold 13,004 BTC in October, including a significant transfer of 1,200 BTC ($132 million) to Kraken, impacting market sentiment [4] - Another long-term holder deposited 3,265 BTC ($364.5 million) to Kraken since October 21, further contributing to the redistribution of Bitcoin [4] - The number of mid-sized wallets (holding 10–100 BTC) has decreased from 132,902 to 132,418 in the past week, reflecting ongoing market redistribution [5]