Bitcoin whales slam brakes on sales as 'Uptober' rally leads to new all-time high

CryptoQuant data indicates that Bitcoin whale selling pressure began to shift in October. On-chain analysis revealed the 30-day percentage change in the amount of Bitcoin held by whales, where the negative values indicate that whales have been creating selling pressure. On-chain analyst Burak Kesmeci also noted that there has been a decline in whale balances as of September ￰0￱ to the crypto pundit, the red zone on the chart clearly shows that whales have offloaded a significant amount of Bitcoin over the past 30 ￰1￱ hits new all-time high The selling pressure by whales is evident in the drop in BTC prices last month, but data shows that whales have started to slow their selling pace in the first days of ￰2￱ researchers suggested that the change may indicate a possible re-accumulation phase, arguing that whales reached a point of selling exhaustion that could support Bitcoin’s short-term ￰3￱ data also showed that some whale addresses are moving their digital assets from exchanges and into ￰4￱ last week identified wallet 0x982c as having withdrawn 29,029 ETH, worth approximately $118 million, from ￰5￱ analytics firm also noted that address Oxa312 pulled 8,695 ETH, worth approximately $39.5 million, from ￰6￱ Bitcoin whale holdings and monthly percentage change.) have surged to more than $135 ￰7￱ DATs and ETFs accumulate more digital assets Bitcoin Treasuries showed that 14 public treasury companies increased their Bitcoin reserves over the past week alone, while only one reduced its ￰8￱ made the largest addition of around 5,268 BTC, while Marathon Digital and CleanSpark added 373 and 308 BTC, ￰9￱ largest Bitcoin treasury company, Strategy, also added 196 BTC to its ￰10￱ Treasuries reported that the top 100 public companies jointly hold 1,038,119 BTC as of October 5.

On-chain data revealed that ETFs saw the biggest buying weeks of the year for BTC and ￰11￱ data showed that spot Bitcoin ETFs recorded $3.24 billion worth of inflows in the just-concluded week, reversing the $902.5 million outflows seen the previous ￰12￱ Ethereum ETFs recorded $1.30 billion in inflows last week, reversing the $795.56 million outflows the previous week. On-chain data confirmed that this week’s ETH inflow number is the largest weekly inflow on record for spot Ethereum ETFs this ￰13￱ your strategy with mentorship + daily ideas - 30 days free access to our trading program