{"id":95857,"date":"2026-04-02T15:02:19","date_gmt":"2026-04-02T12:02:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95857"},"modified":"2026-04-02T15:07:21","modified_gmt":"2026-04-02T12:07:21","slug":"whales-switch-from-accumulating-to-distributing-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/whales-switch-from-accumulating-to-distributing-bitcoin\/","title":{"rendered":"Whales switch from accumulating to distributing bitcoin"},"content":{"rendered":"<p>Large holders have shifted from accumulating the first cryptocurrency to distributing it, and the trend appears long term, according to CryptoQuant analysts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Whales have flipped from buyers to sellers.<\/p>\n<p>1K\u201310K BTC holders are now distributing, with 1Y holdings at -188K BTC after +200K accumulation in 2024.<\/p>\n<p>This isn\u2019t short-term. The 365D trend is declining, signaling structural selling pressure. <a href=\"https:\/\/t.co\/2Y4hwwVgnI\">pic.twitter.com\/2Y4hwwVgnI<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/2039404511672807655?ref_src=twsrc%5Etfw\">April 1, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over the past year, addresses holding 1,000\u201310,000 BTC have reduced their balances by 188,000 BTC. By contrast, in 2024 they accumulated 200,000 BTC. The 365-day trend is heading lower, indicating structural selling pressure.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe pace accelerated sharply in the fourth quarter of 2025. Historically, persistent negative whale accumulation has coincided with periods of prolonged price weakness, and current data indicate that selling remains a significant structural headwind,\u201d the experts noted.<\/em><\/p>\n<\/blockquote>\n<p>Institutional buying has resumed, Strategy <a href=\"https:\/\/forklog.com\/en\/news\/strategy-expands-bitcoin-holdings-with-1031-btc-purchase-at-74326\">is accumulating<\/a>, but retail investors and other market participants continue to sell. <span data-descr=\"Apparent demand \u2014 a metric showing how much buy-side interest outpaces issuance\" class=\"old_tooltip\">Apparent demand<\/span> was negative at 63,000 BTC at the end of March. This confirms the market remains in a distribution phase, with current dynamics limiting upside for the first cryptocurrency.<\/p>\n<p>Another layer of support is fading: mid-sized investors who previously added to positions are now buying more slowly.<\/p>\n<p>In parallel, US demand for bitcoin is falling. The Coinbase premium index has turned negative: American investors are no longer propelling \u201cdigital gold\u201d higher.<\/p>\n<h2 class=\"wp-block-heading\">Possible rebound<\/h2>\n<p>In March bitcoin broke a five-month losing streak, adding 2.2%. This happened even as the war in Iran lifted energy prices and stoked inflation expectations, hurting other risk assets.<\/p>\n<p>Even so, the cryptocurrency remains roughly 45% below <a href=\"https:\/\/forklog.com\/en\/news\/bitcoins-surge-to-126000-revitalises-retail-investors\">the October peak of $126,000<\/a>. At the time of writing the asset trades around $66,400.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c535781917c3f7d8-732527108390730.webp\" alt=\"\u0446\u0435\u043d\u0430 \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u0430 btc price\" class=\"wp-image-277893\"\/><figcaption class=\"wp-element-caption\">Hourly chart of BTC\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>CryptoQuant sees scope for a short-term bounce. However, this would require an improvement in macro conditions, above all a de-escalation of the Middle East conflict.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cA reduction in geopolitical tensions could be a positive catalyst, potentially triggering a \u2018relief\u2019 rally,\u201d the analysts concluded.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Extreme uncertainty<\/h2>\n<p>On April 1 signs emerged of a possible end to the war in Iran. US President Donald Trump <a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116329512466946656\">said<\/a> Tehran had asked the United States for a ceasefire. The prospect of an end to the conflict buoyed investors and supported prices. However, Iranian authorities immediately <a href=\"https:\/\/www.presstv.ir\/Detail\/2026\/04\/01\/766182\/Trump-baseless-claim-ceasefire-request\">denied<\/a> his claim.<\/p>\n<p>A few hours later Trump <a href=\"https:\/\/forklog.com\/en\/news\/oil-price-surge-triggers-17-million-liquidation-of-hyperliquid-whale\">addressed<\/a> the nation, promising to \u201chit Iran hard.\u201d Following those remarks, US Treasuries rallied, while the S&amp;P 500 shed $500bn in market value within minutes. The shock spread to digital assets as well.<\/p>\n<p>According to the analyst known as Darkfost, selling in Ethereum derivatives exceeded $1bn, $968m of which was on Binance alone.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd34 $1B in ETH selling hits derivatives in 1 hour After Trump\u2019s speech.<\/p>\n<p>While markets around the world were expecting a de-escalation speech from Donald Trump regarding the conflict with Iran, his remarks went in a completely different direction.<\/p>\n<p>Instead, Trump made it clear\u2026 <a href=\"https:\/\/t.co\/nz6kIK1Clw\">pic.twitter.com\/nz6kIK1Clw<\/a><\/p>\n<p>\u2014 Darkfost (@Darkfost_Coc) <a href=\"https:\/\/twitter.com\/Darkfost_Coc\/status\/2039610752839868598?ref_src=twsrc%5Etfw\">April 2, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>That pushed the leading altcoin down nearly 5% over the past 24 hours. At the time of writing it trades around $2,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-bb3191f400f84b0d-732556978427195.webp\" alt=\"\u0446\u0435\u043d\u0430 ethereum eth price\" class=\"wp-image-277894\"\/><figcaption class=\"wp-element-caption\">Hourly chart of ETH\/USDT on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3AETHUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cOverall, financial markets are now facing a period of extreme uncertainty and volatility, making price action increasingly fragile and unpredictable,\u201d Darkfost noted.<\/em><\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\">Positive signal<\/h2>\n<p>Activity on crypto exchanges has returned to levels that in past cycles marked structural market resets. The <span data-descr=\"the share of Bitcoin network activity related to exchanges\" class=\"old_tooltip\">Fund Flow Ratio<\/span> has compressed to ~0.065, said CryptoQuant researcher Ignacio Moreno de Vicente.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Exchange Activity Is Back at Reset Levels \u2014 Or Losing Relevance?<\/p>\n<p>\u201cIf it breaks materially below prior support, then this time the contraction would look less like a healthy reset and more like a deeper deterioration in market engagement.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/MorenoDV_?ref_src=twsrc%5Etfw\">@MorenoDV_<\/a> <a href=\"https:\/\/t.co\/lsOijUgqVB\">pic.twitter.com\/lsOijUgqVB<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/2039588545694708224?ref_src=twsrc%5Etfw\">April 2, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Historically, this zone has repeatedly acted as a \u201cmarket reset level\u201d during broader bull cycles: in 2017, 2018, 2019, 2020 and 2023.<\/p>\n<p>On each prior occasion when the 30-day Fund Flow Ratio fell to similar levels, bitcoin either completed a correction or moved through a consolidation that was followed by gains.<\/p>\n<p>Earlier, Glassnode analysts <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-stagnation-glassnode-highlights-lack-of-catalyst\">noted<\/a> stagnation in the leading cryptocurrency. In their view, the market needs a catalyst to shift the trend.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Large holders have moved from accumulating bitcoin to distributing it, a long-term trend, according to CryptoQuant.<\/p>\n","protected":false},"author":1,"featured_media":95858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"CryptoQuant says whales have shifted from accumulating bitcoin to distributing it.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1205,1156,1268],"class_list":["post-95857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptoquant","tag-institutional-investors-and-whales","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"98","promo_type":"1","layout_type":"1","short_excerpt":"CryptoQuant says whales have shifted from accumulating bitcoin to distributing it.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=95857"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95857\/revisions"}],"predecessor-version":[{"id":95859,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95857\/revisions\/95859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95858"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}