Bitcoin Holds at $111K as Crypto Whale Dumps 115,000 BTC — What’s Going On?

Jakarta, Pintu News – According to Cointelegraph, Bitcoin whales have sold $12.7 billion worth of Bitcoin in the past month, and this ongoing selling is expected to depress Bitcoin’s price in the coming weeks, according to analysts.

“The trend of reducing exposure by large players on the Bitcoin network continues to accelerate, reaching the largest coin distribution of the year,” said a CryptoQuant analyst known as “caueconomy” on Friday.

Then, how is the current Bitcoin price movement?

Bitcoin Price Up 0.76% in 24 Hours

On September 9, 2025, the price of Bitcoin was recorded at $111,705, equivalent to approximately IDR 1,832,089,393, marking a modest 0.76% increase over the past 24 hours. During this time, BTC reached a low of IDR 1,813,452,890 and peaked at IDR 1,860,765,995.

At the time of writing, Bitcoin’s market capitalization is estimated at around IDR 36,197 trillion, while its 24-hour trading volume has surged by 37%, reaching IDR 404.4 trillion.

Read also: Dogecoin Climbs to $0.23 Amid $2 Million Whale Accumulation — Is a Bull Run Underway?

Bitcoin’s Big Investors Are Cautious

CryptoQuant analyst“caueconomy” added that in the past 30 days, the whales’ Bitcoin reserves have dropped by more than 100,000 BTC, indicating a very cautious attitude from large investors.

This selling pressure has “negatively impacted the price structure in the short term,” ultimately pushing the price down to below $108,000.

Based on data from CryptoQuant, this is the largest sell-off by whales since July 2022, with a 30-day change of 114,920 BTC equivalent to approximately $12.7 billion at current market prices as of Saturday.

“At the moment, we are still seeing a reduction in the portfolios of the big players, which is likely to continue pressuring the Bitcoin price in the coming weeks,” he added.

Whale Balance Change Starts to Slow

The seven-day daily balance change reached its highest level since March 2021 on September 3, with more than 95,000 BTC changing hands by whales during the week.

Last week, Bitcoin entrepreneur David Bailey stated that the price could jump to $150,000 if the two major whales stop selling.

The good news is that the aggressive sell-off seems to be winding down. As of September 6, the weekly balance change has dropped to around 38,000 BTC. Meanwhile, the price of the Bitcoin asset has been moving in a narrow range between $110,000 to $111,000 for the past three days, as the selling pressure eases slightly.

CryptoQuant defines whales as a group of Bitcoin holders in the range of 1,000 to 10,000 BTC.

Structural Balance

“While the recent whale selloff has triggered short-term volatility and liquidation, the institutional accumulation that has added to BTC holdings over the same period provides a structural counterweight,” Nick Ruck, director at LVRG Research, told Cointelegraph.

Read also: 3 Major Token Unlocks Set to Shake Up the Crypto Market in the Second Week of September

He added that this divergence suggests that whale activity may limit price momentum in the short term, but the market’s underlying resilience remains strong thanks to corporate buying and ETF-driven demand.

“Traders should watch whether institutional downside buying can offset whale pressure, although macroeconomic catalysts such as the Fed’s September rate decision could be decisive for overall market direction.”

Healthier Long-Term Outlook

In the long term, the market looks much healthier. Bitcoin has only corrected 13% so far from its record high in mid-August – a much shallower drop than previous corrections.

“A year ago, the one-year moving average (1Y MA) was at $52,000, and now it’s at $94,000,” analyst “Dave the wave” said on Sunday. “Next month, it will break $100,000,” he added.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Cointelegraph. Bitcoin whales dump 115,000 BTC in biggest sell-off since mid-2022. Accessed on September 9, 2025