Have Bitcoin whales stopped selling?

One of the most important changes currently taking place in the market is the behavior of the largest BTC holders. According to CoinShares data, whales have sold roughly $40 billion worth of Bitcoin since October 2025, creating one of the largest sources of selling pressure in the current cycle. That process, however, has started to fade. CoinShares points to three consecutive weeks of accumulation among the largest holders, a pattern that has historically appeared at similar stages of Bitcoin’s four-year cycles. If this shift proves sustainable, the market could be losing one of the key sources of supply that has weighed on prices in recent months.

Since October 2025, whales have sold…