Bitcoin Whales Trim Holdings Despite $111K All-Time High

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Bitcoin Whales Trim Holdings Despite $111,000 All-Time High

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 05, 2025

Key Takeaways

Bitcoin wallets with over 10,000 BTC have reduced their holdings by 40% since 2017;
Longtime holders who bought BTC under $700 are steadily cashing out after years of gains;
Profit-taking rose after Bitcoin hit $111K, with average coins sold locking in 16% gains.

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Bitcoin Whales Trim Holdings Despite $111,000 All-Time High

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Some of Bitcoin’s largest holders have been selling their assets, even as the cryptocurrency recently reached a new record high.

On June 3, analyst Willy Woo shared on X that wallets holding over 10,000 BTC BTC $107,377.44 have been steadily offloading coins since 2017.

These are long-time holders who first bought Bitcoin when it was worth between $0 and $700. Many of them have kept their coins for more than a decade.

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Woo shared a chart showing that the total Bitcoin held by this group has dropped by about 40% in the past eight years, from around 2.7 million BTC to roughly 1.6 million.

Despite the recent price rise, Woo said that buying Bitcoin at current levels may not be attractive in the short term. However, he still believes the cryptocurrency could turn out to be a strong investment over the next ten years.

Additionally, blockchain data firm Glassnode reported on X that there was an increase in profit-taking after Bitcoin reached its all-time high of $111,000 on May 22.

According to their data, the average BTC sold during that time brought in a profit of about 16%. They noted that only a small percentage of past trading days have been more profitable.

Meanwhile, Bitcoin's response to a US-China trade deal may reveal if the crypto is truly seen as a safe haven during global economic uncertainty. What did the crypto community say about it? Read the full story.