Here Are The Bitcoin Whales That Have Been Dumping BTC And Crashing The Price

1 hour ago

Bitcoin’s terms struggled to regain momentum past week, hovering conscionable supra the $100,000 threshold aft a turbulent commencement to November. The full marketplace sentiment is somewhat fragile pursuing dense selling unit from ample holders, and on-chain information points to large whale movements that whitethorn beryllium adding to the downtrend.

High-profile entities, including the Winklevoss Twins’ Gemini Custody wallets and aboriginal Bitcoin miner Owen Gunden, person surfaced arsenic cardinal players successful this question of transactions that could beryllium influencing Bitcoin’s caller terms action.

Winklevoss Twins Move Millions In BTC From Gemini Custody

According to blockchain data, wallets linked to Winklevoss Capital and Gemini Custody person been consistently transferring ample amounts of Bitcoin implicit the past respective months successful an ongoing deliberate accommodation of their holdings.

These movements person occurred successful respective phases, often involving sizeable transactions that look timed. The latest transaction stands out, showing 250 BTC, worthy astir $25.45 cardinal astatine existent prices, moved to a Gemini blistery wallet conscionable hours ago.

If these transfers correspond to sales, it would mean that the twins person been methodically unloading their Bitcoin positions implicit clip alternatively than engaging successful abrupt bulk liquidations. Cumulatively, they person present efficaciously liquidated implicit 9,000 BTC, equivalent to astir $900 million, since the commencement of 2025. This has caused their holdings to autumn from astir 24,000 BTC earlier successful the twelvemonth to nether 16,000 BTC close now.

Bitcoin OG Owen Gunden Moves Final Holdings Toward Exchanges

Another large wallet attracting attraction belongs to Owen Gunden, an aboriginal Bitcoin miner and Genesis creditor. Data from on-chain analytics platform Lookonchain reveals that Gunden precocious initiated ample transfers totaling 3,549 BTC (around $361.8 million) successful a azygous transaction conscionable 8 hours ago.

The move follows earlier transactions this week, including 3,601 BTC ($372.1 million) sent 1 time prior. Notably, astir 600 BTC from these transfers, worthy implicit $61 million, person already been deposited connected Kraken, signaling imaginable liquidation.

These movements person reduced Gunden’s full holdings from astir 11,000 BTC to astir zero. Such ample transfers to exchange-linked wallets often precede merchantability orders, contributing to short-term selling pressure.

The Gunden transfers, alongside akin ample movements similar those from the Winklevoss twins, are among respective whale merchantability events recorded successful November that person added to Bitcoin’s persistent selling pressure. This inclination is evident successful the broader organization market, wherever US-based Spot Bitcoin ETFs person besides seen sustained outflows. Data shows that Friday of past week closed with $558.44 cardinal leaving these funds.

The combined effect of these whale movements presents a concerning outlook for Bitcoin’s short-term trend. However, this play has been highlighted by different greenish weekend for Bitcoin.

At the clip of writing, Bitcoin is trading astatine $106,270, up by 4.4% successful the past 24 hours. This follows a drawstring of greenish weekends implicit the past 4 weeks, which were instantly reversed connected the pursuing monday.