Over 400,000 bitcoins, which had been held in the wallets of “old” owners for a long time, were moved to the market over the past month. This data was reported by analysts at QCP Capital.
This is reported by Business • Media
Whales Activate Transfers: Impact on Bitcoin Price
At the beginning of November 2025, there is significant activity in the cryptocurrency market. On the morning of November 3, the price of Bitcoin dropped from $110,000 to $107,000. This coincided with large transactions on the Kraken exchange, which, according to QCP Capital and on-chain analysts, were conducted by long-term Bitcoin holders.
Experts emphasize that in October, there were already mass outflows of coins from old wallets, which led to the first monthly price decline of Bitcoin since 2018. This trend continues today: over 400,000 BTC were brought to the market in 30 days, despite no significant macroeconomic changes occurring.
“Over 400,000 BTC from the ‘old’ supply have been moved to the market in the last 30 days,” stated QCP Capital.
Volatility and Market Participants’ Expectations
Currently, the stock market and other risk assets are rising amid a soft monetary policy, yet Bitcoin shows relative stability. Although the cryptocurrency’s volatility has slightly increased, open interest in futures has remained low since October 10.
Analysts note that the consolidation phase of Bitcoin may continue until the asset redistribution phase among major market players is completed. Some experts compare the current situation to the period leading up to the breakout in 2024, but the question of the onset of a new crypto winter remains open.
Earlier, it was reported that Bitcoin is approaching a critical level again, while Ethereum traders are showing increased tension amid market volatility.