Bitcoin whales holding between 1,000 and 10,000 Bitcoin have reduced their holdings by 220,000 BTC. This is the fastest decline since 2023, according to on-chain data. The behavior of these whales may indicate that they expect a more severe correction to occur in the near future.
Amid uncertainty in the cryptocurrency market, large BTC holders are becoming cautious. Glassnode's on-chain data shows that Bitcoin holders between 1,000 and 10,000 BTC have reduced their holdings to around 220,000 BTC over the past year. Whale’s holdings peaked at approximately 409,000 BTC in March 2024.
Whales with 1,000 to 10,000 BTC, BTC holdings will decline at the fastest rate in history since 2023
🚨Large BTC holders are not buying the dip
Addresses holding between 1,000 and 10,000 BTC have lost 220,000 BTC in the past year after peaking at around 409,000 BTC in March 2024.
This is the fastest decline since early 2023. pic.twitter.com/XV13XWvc0D
— Coin Bureau (@coinbureau) January 9, 2026
According to the Coin Bureau, this cut represents The whales' actions indicate that they are hesitant to resume buying crypto assets, which could indicate that they are expecting a more severe correction.
Bitcoin ETF investors exhibit similar characteristics. According to data The Spot BTC ETF recorded $681.01 million worth of outflows last week, according to ETF tracking website SosoValue. January 7th was the worst day of the week, with $486 million worth of negative flows. The ETF only recorded positive inflows on Monday, amounting to a sizable $697.25 million, but it wasn't enough to sustain buying for the rest of the week.
ETFs recorded net outflows of more than $1 billion in December. So far, the fund has experienced a slow start to 2026, with year-to-date net outflows of 209.87 million.
In a previous report from Cryptopolitan dated January 3, noticed Bitcoin whale accumulation is overstated and on-chain data suggests continued distribution. The report notes that Julio Moreno, head of research at CryptoQuant, wrote about X that “whales are not buying huge amounts of Bitcoin.”
Researchers said most Bitcoin whale data is influenced by the activity of crypto exchanges that consolidate their holdings into fewer addresses. Moreno said the data, which excludes all exchange addresses, shows the whale's balance is decreasing.
Similarly, whale influence on exchanges has also reached its peak in the past 10 months, indicating potential selling pressure. Recent Cryppolitan reported Significant increase in whale deposits on all exchanges. The report noted a trend that occurred just as Bitcoin rallied above $90,000, a level last seen in mid-December.
According to the report, the whale ratio of the BTC exchange rose to 0.504. Binance, the world's largest cryptocurrency exchange by trading volume, is at the center of inflows to all exchanges. The exchange held 71% of stablecoin deposits. The exchange also accepts BTC deposits, and native BTC remained one of the most actively traded assets on the platform.
Binance’s Bitcoin inflows have skyrocketed over the past two years
CryptoQuant data also showed that Bitcoin inflows on Binance have been increasing over the past two years, hitting a high average inflow of 22.81 in January. The currency whale ratio reflects past sell-off periods, including 2025. Whales also moved immediately after the October liquidation event, looking to book profits before BTC falls further significantly.
But not all whales are sold. January 7th, 3 wallets purchased $280 million for $3,000 in Bitcoin. Santiment said Bitcoin's breakout above $90 may have reignited optimism among large companies. coin bureau noticed On December 20th, it was announced that 50% of Bitcoin's realization cap would come from new whale buyers.
According to the crypto education platform, these new investors are absorbing supply at significantly higher prices without waiting for a major correction. Coin Bureau indicated that Bitcoin is seeing increased buying activity from new institutional investors and wealthy individuals.
Bitcoin is currently trading at $90,667. According to data According to crypto data aggregator CoinMarketCap, the crypto asset rose 1.12% in the past 24 hours, but has struggled to break above $95,000, the level last revisited on January 5.
