Recent analysis by cryptocurrency analyst Ali highlights significant selling activity among Bitcoin (CRYPTO:BTC) whales, who hold between 1,000 and 10,000 BTC each.

According to Santiment's "Supply Distribution" metric, these whales have collectively sold off approximately 30,000 BTC, valued at over $1.65 billion, contributing to recent market declines.

The chart provided indicates a notable downward trend in whale-held Bitcoin over the past month, with accelerated selling observed in recent days.

This sell-off from major holders suggests ongoing bearish sentiment, potentially prolonging Bitcoin's current downtrend.

Investors are advised to monitor this metric closely as further declines could indicate continued market pressure, while a reversal would suggest a potential bullish reversal as whales seek favorable re-entry points.