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Crypto Potato 2025-02-27 15:52:27

Bitcoin Whales Offload 6,813 BTC as Selling Pressure Mounts

Bitcoin’s price plunged below $90,000 immediately after US President Donald Trump announced his planned 25% tariffs on Canada and Mexico. During periods of high volatility, investors tend to liquidate crypto assets first to cut down on their overall financial risk. Amidst increasing concerns of a steeper decline, the latest data depicts a notable shift in Bitcoin whale and shark activity. Investors Dump Millions in BTC According to the data shared by Santiment, wallets holding 10 or more BTC have collectively offloaded approximately 6,813 BTC over the past week, representing the largest drop in holdings since July. This also coincided with a 16% decline in Bitcoin’s price, which was observed in the last seven days. The on-chain platform found a direct correlation between the selling pressure from these large holders and the broader market correction. Historically, accumulation by this group has signaled potential price recoveries, which makes their future buying behavior a key indicator for traders anticipating market rebounds. Bitcoin continues to trade in line with risk assets, and continued spot BTC ETF outflows, with February 26th recording over $744 million, confirming a “lack of conviction.” As market sentiment remained strained, experts suggest that Bitcoin is at the risk of revisiting the $70,000 level. MVRV Data Suggests Otherwise Despite intense uncertainty in the short term, Assure DeFi CEO and crypto analyst Chapo has reaffirmed his bullish outlook on Bitcoin, citing the Market Value to Realized Value (MVRV) Ratio as a key indicator of market cycles. In his latest tweet , Chapo highlighted the importance of removing emotions and focusing on data when analyzing BTC’s price movements. Currently, Bitcoin’s MVRV sits at 2.09, which indicates that the average BTC holder has more than doubled their investment. Historically, MVRV spikes sharply at market tops, signaling peak profit-taking levels. Chapo predicted a peak MVRV of 3.2 this cycle, which suggests that 2025 will remain bullish before a potential market top. He advised traders to closely monitor MVRV, as it has been highly accurate in identifying both market tops and optimal buying opportunities in past cycles. The post Bitcoin Whales Offload 6,813 BTC as Selling Pressure Mounts appeared first on CryptoPotato .

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