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Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High

Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High

CryptotaleCryptotale2025/06/04 05:20
By:Yusuf Islam
Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High image 0
  • Large Bitcoin holders are now selling their coins for profit after holding them for several years.
  • Bitcoin’s Entity-Adjusted SOPR shows a rare 16% profit per coin, seen in under 8% of days.
  • Bitcoin remains above $ 105,000 while supply nears its cap, and buyer interest remains strong.

Large Bitcoin holders have steadily taken profits after the asset’s new peak, continuing a multi-year trend of major selloffs. According to on-chain data, whales holding between 10,000 and 100,000 BTC have reduced their positions since 2017. This has happened even as Bitcoin’s price recently surged past $110,000, a record milestone. Crypto analyst Willy Woo posted a Glassnode chart on X that shows this long-term trend.

Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High image 1 Source: X

He pointed out, “Who are the idiots who are selling when institutions and sovereigns are racing to buy billions in BTC?” Woo said that most of these coins were bought between $0 and $700 and have been held for 8 to 16 years. “They’re stupid,” he added, highlighting the shift between early adopters and current market demand. Meanwhile, institutional and sovereign buyers are showing growing interest in accumulating Bitcoin.

Glassnode Sees Major Profit-Taking Spike in SOPR Data

Besides Woo’s insight, on June 3rd, Glassnode shared another chart on X that revealed a clear rise in Bitcoin profit realization. The chart measured the Entity-Adjusted SOPR (Spent Output Profit Ratio), showing a 16% profit per coin sold. The analytics firm noted this level of profitability is rare, observed on fewer than 8% of Bitcoin’s historical trading days.

Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High image 2 Source: X

Consequently, this indicates a key distribution phase where many investors are locking in gains, a pattern commonly seen near market tops. Glassnode notes that this behavior could introduce short-term volatility if the selling pressure continues.

Related: Bitcoin’s Rally Ends as Market Reacts to Trade Tensions

Bitcoin Remains Above $105K Amid Market Movements

Meanwhile, according to CoinMarketCap data, Bitcoin trades at $105,494.10, reflecting a 0.21% daily gain at press time. The market capitalization stands at $2.09 trillion, with a 24-hour trading volume of $44.64 billion. Circulating supply is now at 19.87 million BTC, closing in on the 21 million cap.

Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High image 3 Source: CoinMarketCap

Additionally, Bitcoin reached an intraday high of $106,700 and maintains support above $105,000 despite multiple retracements. The volume-to-market cap ratio is 2.14%, showing consistent liquidity across the market.

Furthermore, Bitcoin remains the leader in market sentiment, boasting a 100% profile score. As supply nears its limit, scarcity may play a major role in upcoming price moves. Will continued whale profit-taking influence Bitcoin’s price trajectory despite rising institutional demand?

The post Bitcoin Whales Continue Sell-Off as Profits Hit Rare 16% High appeared first on Cryptotale.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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