Bitcoin whales have sold approximately 147,000 BTC in the past month, amounting to around $16.5 billion at current prices. This significant offloading could exert further downward pressure on BTC prices. Analysts note that this sell-off began after Bitcoin's price surpassed $124,500 in August. The trend of large holders selling is primarily attributed to long-term holder (LTH) whales, particularly those who have repositioned significant amounts of BTC recently. Despite the whale sell-off, data indicates that the volume transferred to exchanges has been relatively low, suggesting these coins are being moved elsewhere. Companies, such as Japan’s Metaplanet, are also acquiring large quantities of Bitcoin, which contributes to a more balanced market. Technical analysis suggests a potential price drop to $100,000 if current support levels fail, marking an 11% descent from the current price. The market's volatility continues as Bitcoin's trading momentum shifts, heightening the impact on investors and market observers.

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