Bitcoin Whale Holdings Decline to Lowest Average Since 2018

On-chain data indicates that the average Bitcoin whale is now holding just 488 BTC, the lowest level since December 2018. This trend may signal bearish sentiment for BTC's price.

Key Points

Bitcoin whales are defined as entities holding between 100 and 10,000 BTC.
The average supply held by these whales has declined since early 2022, coinciding with a bear market.
During 2023, whales began accumulating BTC again but at a slower rate than previous cycles.
Whale selling has accelerated during recent price rallies, particularly in late 2024.
The current average whale holding of 488 BTC reflects reduced market confidence among large investors.

As of now, Bitcoin trades around $111,900, reflecting a rise of over 1% in the past day.