Bitcoin Retreats to $115,000 as Whales Unload Billions

Bitcoin’s surge toward record highs hit a wall this week after large holders cashed out in size, sparking a rapid pullback.

According to CryptoQuant data, whales sold over 30,000 BTC, worth roughly $3.45 billion, in less than a week. The sell-off dragged Bitcoin down to $115,000, erasing part of its recent rally and reigniting debate over whether the market is entering a distribution phase.

One key signal is the spike in the Coin Days Destroyed (CDD) metric, which measures the movement of long-held coins. Analysts noted that many of the BTC sold had been dormant for months or years, pointing to seasoned investors deciding it was time to take profits. Historically, CDD spikes have coincided with distribution points before sharp corrections – including the 2017 and 2021 market tops.

Still, while the scale of whale selling suggests near-term volatility, some observers argue the broader bull trend remains intact. Institutional inflows and tight exchange balances continue to provide underlying support, even as short-term players absorb selling pressure.

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For now, traders are closely watching the $110,000–$115,000 range as a critical support zone. Whether this week’s sell-off proves a healthy reset or the start of deeper correction will depend on how the market reacts to whale distribution in the days ahead.