Saad Ullah
⬤ The number of Bitcoin wallets holding over 100 BTC fell fast over the past week—from 19,517 down to 18,779. That's a significant drop at the upper end of the market, where the so-called "whales" operate.
⬤ The Glassnode chart tells the story clearly: whale balances peaked at 19,779 on October 30, then slid steadily into early November. During that same stretch, Bitcoin's price fell from above $108,000 to around $102,000—a notable pullback as big holders started unloading coins.
⬤ This shift suggests whales are locking in profits after Bitcoin's recent rally, which has added some short-term selling pressure. When high-balance wallets start declining, it usually means the biggest players are getting cautious—especially when prices begin weakening from previous peaks.
⬤ For traders and investors, this drop in whale holdings is worth watching. If it continues, it could weigh on sentiment and slow any near-term recovery. But if whale addresses stabilize, that might signal distribution is easing and the market is finding its footing after the correction.
Saad Ullah
