The post Bitcoin Whales Dump $12.7B In Largest Selloff Since 2022 appeared on BitcoinEthereumNews.com. Bitcoin whales have sold a whopping $12.7 billion in Bitcoin over the past month, and continued sales could further pressure its price for the next few weeks, according to analysts. “The trend of reducing exposure by major Bitcoin network players continues to intensify, reaching the largest coin distribution this year,” observed CryptoQuant analyst “caueconomy” on Friday.  They added that in the last 30 days, whale reserves have fallen by more than 100,000 Bitcoin (BTC), “signaling intense risk aversion among large investors.” This selling pressure has been “penalizing the price structure in the short term,” ultimately pus hing prices below $108,000. According to CryptoQuant data, it has been the largest whale sell-off since July 2022, with a 30-day change of 114,920 BTC worth around $12.7 billion at current market prices as of Saturday.  “At this time, we are still seeing these reductions in the portfolios of major players, which may continue to pressure Bitcoin in the coming weeks.” Bitcoin whales have been offloading. Source: CryptoQuant Whale balance change slows down  The seven-day daily change balance reached its highest level since March 2021 on Sept. 3, with more than 95,000 BTC being shifted by whales for that week. Last week, Bitcoin entrepreneur David Bailey said prices could surge to $150,000 if two key whales stop selling.  Related: Bitcoin will soar to $150K if we slay these 2 whales: David Bailey The good news is that the aggressive selling appears to have slowed, with the weekly balance change dropping to around 38,000 BTC as of Sept. 6.  Meanwhile, the asset has been trading in a tight range-bound channel between $110,000 and $111,000 over the past three days as the selling pressure abated slightly.  CryptoQuant defines whales as a cohort holding a balance between 1,000 and 10,000 BTC.  A structural counterbalance  “While recent whale… The post Bitcoin Whales Dump $12.7B In Largest Selloff Since 2022 appeared on BitcoinEthereumNews.com. Bitcoin whales have sold a whopping $12.7 billion in Bitcoin over the past month, and continued sales could further pressure its price for the next few weeks, according to analysts. “The trend of reducing exposure by major Bitcoin network players continues to intensify, reaching the largest coin distribution this year,” observed CryptoQuant analyst “caueconomy” on Friday.  They added that in the last 30 days, whale reserves have fallen by more than 100,000 Bitcoin (BTC), “signaling intense risk aversion among large investors.” This selling pressure has been “penalizing the price structure in the short term,” ultimately pus hing prices below $108,000. According to CryptoQuant data, it has been the largest whale sell-off since July 2022, with a 30-day change of 114,920 BTC worth around $12.7 billion at current market prices as of Saturday.  “At this time, we are still seeing these reductions in the portfolios of major players, which may continue to pressure Bitcoin in the coming weeks.” Bitcoin whales have been offloading. Source: CryptoQuant Whale balance change slows down  The seven-day daily change balance reached its highest level since March 2021 on Sept. 3, with more than 95,000 BTC being shifted by whales for that week. Last week, Bitcoin entrepreneur David Bailey said prices could surge to $150,000 if two key whales stop selling.  Related: Bitcoin will soar to $150K if we slay these 2 whales: David Bailey The good news is that the aggressive selling appears to have slowed, with the weekly balance change dropping to around 38,000 BTC as of Sept. 6.  Meanwhile, the asset has been trading in a tight range-bound channel between $110,000 and $111,000 over the past three days as the selling pressure abated slightly.  CryptoQuant defines whales as a cohort holding a balance between 1,000 and 10,000 BTC.  A structural counterbalance  “While recent whale…