• Bitcoin whale wallet addresses have been seeing a decline in numbers.
• The price of BTC has declined by over 4% in the past few days.

The rise in Bitcoin’s [BTC] prices brought varying levels of enthusiasm for holders. For large investors, the excitement manifested in selling off their holdings.

Bitcoin whales commence sell-offs

AMBCrypto’s examination of Bitcoin wallet addresses on Glassnode revealed a notable decline. Notably, the analysis of wallet addresses holding 100, 1,000, and 10,000 BTCs indicated a decrease.

For wallets holding 100 BTCs or more, there was an upward trend until around the 9th of November, with around 16,194 wallets. Subsequently, a decline commenced, and at the time of this report, the number stood at around 16,125. 

A similar pattern was observed in addresses holding 1,000 or more BTCs. Initially increasing to over 8.2 million, the number has now decreased to around 6.1 million. Additionally, wallets containing 10,000 or more BTCs peaked at over 2.4 million before experiencing a decline.

AMBCrypto’s analysis also r

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Author: Adewale Olarinde

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