How whale selling is impacting bitcoin's price moves

Market Trends & Analysis - Bitcoin experienced a pullback, trading above $100,000 but still down around 20% from record highs [1] - Analysts attribute the slowdown to whale selling, where long-term holders sell large amounts of Bitcoin, putting pressure on the market [1] - Concerns arise as October, typically a strong month for Bitcoin, performed poorly for the first time since 2018, raising concerns for November's performance [3][4] Whale Selling Impact - Long-term holders sold 400,000 Bitcoin over the past month [2] - Long net sales from long-term holders exceeded 1 million Bitcoin since June 30th [2] Potential Catalysts & Risks - Compass Point suggests $95,000 as a potential support level for Bitcoin [6] - Lack of liquidity due to the Treasury general account not being drawn on because of the government shutdown has negatively impacted Bitcoin [7] - Potential tailwinds for Bitcoin include the government reopening, strategy going into the S&P 500, and positive legislation in Congress [7] - Risks include the potential for a further leg lower before going higher and more hawkish commentary from the Fed [5]