Bitcoin Whales Trigger $4B Sell-Off, Raising September Concerns

The last time such intense selling hit the market was in February, and only July 4 saw a larger wave this year when nearly $9 billion was realized.

The selling came primarily from whale wallets. Super whales controlling over 10,000 BTC were responsible for about half the total, while large and mid-sized whale accounts contributed another $1.7 billion combined. Analysts see this as a sign that long-term investors are cashing in at elevated prices, handing liquidity to short-term traders more likely to panic during corrections.

This shift of coins from “strong hands” to “weak hands” raises the risk of near-term turbulence. Historically, such patterns often emerge close to local peaks, setting the stage for a cooling-off period or consolidation phase before a new push higher.

Red September Risks Back in Focus

The timing of this sell-off is especially notable, as September has long carried a bearish reputation across both traditional and crypto markets. Since 2013, Bitcoin has posted negative returns in most Septembers, with average losses of nearly 4%.

Coupled with rising inflation concerns and uncertainty over the Fed’s upcoming meeting, the whale-led selling could intensify those seasonal headwinds.

Market analysts caution that the $110,000 zone is a critical level to watch. A decisive break below could fuel more liquidations and trigger a deeper reset. On the other hand, if whales step aside and retail inflows hold steady, Bitcoin could weather the September storm and bounce back in October, which has historically been one of its strongest months.

For now, the data paints a picture of a market caught between large holders locking in profits and hopeful investors positioning for the next breakout. The outcome of this tug-of-war may decide whether “Red September” lives up to its name in 2025.

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