Bitcoin is facing one of its most turbulent stretches in years as major holders continue to unload their coins at a pace not seen since 2022.
CryptoQuant analyst Caueconomy explained that some of the largest Bitcoin wallets have been cutting back on their exposure at an alarming pace. In the past month alone, whales reduced their reserves by more than 100,000 BTC.
Bitcoin Seeing Rapid Whale Selloffs
He said this aggressive distribution shows how cautious large investors have become. The heavy selling has already damaged Bitcoin’s short-term price structure and pushed the market below $108,000. Caueconomy added that whales are still trimming their holdings, which could create more selling pressure going forward.
Meanwhile, data from Glassnode shows whale supply has fallen to its lowest level in seven years. Notably, some traders see this as a sign of weakness, but others believe it points to a healthier spread of coins across the market, which strengthens Bitcoin’s decentralization.
Glassnode reported that the average Bitcoin balance per whale has been shrinking since November 2024. Specifically, entities holding between 100 BTC and 10,000 BTC now sit on an average of just 488 coins, a level not seen since December 2018.
Meanwhile, in a separate analysis, Glassnode described Bitcoin’s current position as a consolidation phase. The premier crypto asset has been trading in a tight zone between $104,000 and $116,000 after a period of strong absorption by investors.
Accumulating in the Gap
Bitcoin is consolidating in the $104k–$116k air gap after significant absorption by investors. Futures and ETF flows show cooling demand. Strength above $116k could revive the uptrend, while a breakdown risks a move toward $93k–$95k.
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— glassnode (@glassnode) September 4, 2025
The firm noted that both futures activity and ETF flows reflect weaker demand at the moment. It explained that a clear move above $116,000 could bring the uptrend back to life, but if the market breaks lower, prices could slide toward the $93,000 to $95,000 range.
Bitcoin Close to Cycle End?
Also, market analyst Crypto Birb recently discussed Bitcoin’s current price position. He calculated that Bitcoin has run for 1,017 days since the November 2022 bottom.
According to him, past cycles peaked between 1,060 and 1,100 days, which points to a potential top forming between late October and mid-November this year. This is around fifty days from now.
Further, he highlighted the historical pattern following halvings. Notably, peaks usually happen 518 to 580 days after the event, and since the April 2024 halving occurred 503 days ago, Bitcoin is now between 77% and 86% through that window.
He said this puts the market inside the “hot zone,” a stage when investors need to act with extra caution. Birb warned that every prior peak has led to a steep drop of 70% to 80% within the next 370 to 410 days, making a 2026 bear market almost certain.
He pointed out that Bitcoin recently pulled back to $109,800 from its August high of $124,100. According to him, local support sits between $107,700 and $108,700, while resistance lies near $113,000 to $114,100. He cautioned that a drop below support could invite stronger selling, but holding those levels would keep the structure intact.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
