News

Bitcoin (BTC) Whale Address Holdings at A 29-Month Low

Published by
Bitcoin (BTC) Whale Address Holdings at A 29-Month Low

The world’s largest cryptocurrency Bitcoin (BTC) continues to face strong selling pressure amid uncertainties in the global markets. Over the last weekend, the BTC price has slipped under $19,000 with analysts expecting further downside.

As per the on-chain data, the Bitcoin whale holdings continue to drop for 100 months in a row. As per on-chain data provider Santimenr, amid the fears of inflation and a global recession “addresses holding 100 to 10k $BTC have lowered their percentage of supply held of #crypto‘s top asset to 29-month lows”.

Courtesy: Santiment

Well, this clearly shows the sentiment that Bitcoin investors remain extremely cautious considering the current macro environment. Also, as per the data on CryptoQuant, the number of short positions in Bitcoin derivatives has been increasing. It noted:

“The BTC holdings on the Derivatives Exchange increased just before dumping BTC.  Also, whales seem to have intentionally opened short positions on the Derivatives Exchange and lowered BTC prices.”

Bitcoin Social Dominance Spikes

As we know, along with Bitcoin, the broader crypto market has enetered a severe correction. The altcoin space has witnessed even greater correction in the recent crypto market rout. As a result, the Bitcoin social interest has touched a new 2-month high. As on-chain data provider Santiment reports:

A spike in #Bitcoin interest on social platforms came this weekend. Among #crypto‘s top 100 assets, $BTC is the topic in 26%+ of discussions for the first time since mid-July. Our backtesting shows 20%+ dedicated to Bitcoin is a positive for the sector.

Courtesy: Santiment

As Bitcoin clocks its third-consecutive daily loss, the BTC Fear and Greed Index also moves towards “extreme fear” conditions. Earlier today, the Fear & Greed Index fell from 24/100 to 21/100. However, it still continues to hold above 20 levels indicating some investor resilience.

The bears, however, will be eyeing the sub $18,000 levels if the sell-off in the broader market continues.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Polymarket Hits $20B in Trading Volume, Announces Plans for Massive POLY Token Airdrop

Polymarket has surpassed $20 billion in total trading volume and has confirmed plans to launch…

October 25, 2025
  • News

James Wynn Takes XRP Long Bet After Ripple Prime Announcement

Ripple's native cryptocurrency XRP is currently defying the crypto market downturn, gaining 5% today, and…

October 25, 2025
  • News

Nasdaq-Listed Bonk Holdings Makes First Major Purchase of $32M, Nears 3% of Total Supply

Bonk Holdings Inc. (BNKK) has made its first significant acquisition of $32 million worth of…

October 25, 2025
  • News

Binance-based Meme Coin GIGGLE Fund Shoots 145% on Exchange Listing News

Giggle Fund, the charity-focused meme coin on Binance Smart Chain (BSC), has surged a massive…

October 25, 2025
  • News

ASTER Gets Major Boost as Project Launches Token Buyback Program, Expert Predicts $10 Spike

ASTER has announced a token buyback program in a bid to stabilize token prices and…

October 25, 2025
  • News

Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC Amid Crypto Oversight Push

Michael Selig is the latest candidate who has been chosen by President Donald Trump to…

October 25, 2025