Bitcoin whales have sold $12.7 billion in Bitcoin in the last month, with reserves dropping by more than 100,000 BTC. This intense risk aversion among large investors has pushed prices below $108,000, marking the largest whale sell-off since July 2022.

The seven-day daily change balance of whales reached its highest level since March 2021, with more than 95,000 BTC shifted in a week. Bitcoin entrepreneur David Bailey believes prices could surge to $150,000 if two key whales stop selling.

Institutional accumulation of BTC has provided a structural counterbalance to recent whale sell-offs, according to Nick Ruck of LVRG Research. While whale activity may cap near-term price momentum, corporate buying and ETF-driven demand continue to support the market.

Bitcoin has only corrected 13% from its mid-August all-time high, showing a much healthier longer-term picture. Analysts note that the one-year moving average has steadily increased from $52,000 to $94,000, with predictions of exceeding $100,000 in the next month.

Read more at Cointelegraph: Bitcoin Whales Dump $12.7B In Largest Selloff Since 2022