Miners are selling Bitcoin into rallies after de-risking their positions.
Opportunistic whales are taking advantage of market weakness by selling.
Bitcoin...
1K-10K BTC whales reduced holdings by 220K BTC YoY—sharpest decline since early 2023—echoing 2021-22 distribution before bear market.​
Exchange wallet transfers...
Whales accumulated over $23.5B in Bitcoin during December 2025, marking the fastest pace since 2012.
This accumulation mirrors August 2024 and April 2025...