GLASSNODE REPORTS $3.4B BITCOIN SOLD BY WHALES AS BTC STRUGGLES AT $92K

Bitcoin’s largest non-exchange holders have moved $3.37 billion worth of BTC this month, signaling a shift toward distribution as liquidity tightens and the $94,000 resistance level remains intact.

According to Glassnode, entities holding 10,000 to 100,000 BTC—typically institutional custodians or early miners—have sold or redistributed roughly 36,500 BTC ($3.4B) since December 1. This activity highlights that the largest holders are de-risking amid current market conditions.

The distribution comes as Bitcoin struggles to surpass $94,000, following the Federal Reserve’s recent rate cut. During early Asian trading on Friday, BTC was seen at $92,250, down about 0.2%.

Key Data Points

• Cohort: Entities holding 10,000–100,000 BTC
• Volume: Approximately $3.37B in selling pressure over 12 days
• Trend: A shift from accumulation to distribution for this cohort, while retail sentiment remains strong

This pattern underscores how institutional holders are responding cautiously to market resistance, even as smaller investors maintain confidence.

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Liquidity Drought Weighs on Bitcoin’s Breakout Potential

Market depth is thinning as stablecoin liquidity, a key measure of buying power, has dropped sharply. Data cited by FX Leaders shows a 50% decline in stablecoin inflows since August, indicating that current Bitcoin price levels lack the fresh capital needed to push past $100,000.

“Bitcoin is trading steadily near $92,000 as markets digest the Fed’s rate cut and its plan to inject liquidity through $40 billion in monthly Treasury purchases.

While this liquidity boost is expected to have a stronger long-term effect, near-term sentiment is improving, supported by renewed institutional flows,” said Akshat Siddhant, Lead Quant Analyst at Mudrex.

The data suggests that while Bitcoin remains resilient, a lack of fresh stablecoin inflows may limit short-term upside, keeping the market in a cautious stance until new capital enters.

“Bitcoin and Ethereum ETFs saw more than $610 million in inflows over the past two days, signalling growing confidence. For BTC to push toward the $100,000 mark, a daily close above $94,140 is key, with $90,000 acting as immediate support.”

Bitcoin Eyes $88K Support Amid Distribution Signals

Investors should watch the current divergence closely. While retail traders focus on a potential “Fed pivot,” the smart money—entities holding 10,000 to 100,000 BTC—is taking advantage of available liquidity to exit positions.

The $3.4 billion outflow from this cohort, combined with a 50% drop in stablecoin reserves, suggests that Bitcoin’s current range ($88,000–$94,000) is being used more for distribution than accumulation.

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If BTC breaks below the $88,000 support level, volatility could spike, signaling a potential shift in market sentiment and price action.

Conclusion

Bitcoin is currently navigating a critical phase as institutional holders and retail sentiment diverge. While smart money—entities holding 10,000 to 100,000 BTC—is redistributing $3.4 billion, retail traders continue to maintain confidence, supported by ETFs and renewed inflows.

At the same time, the market faces a liquidity drought, with stablecoin reserves down 50% since August, limiting the fresh capital needed for a decisive breakout above $100,000. The range between $88,000 and $94,000 is shaping up as a key zone for distribution, not accumulation.

Overall, Bitcoin remains resilient near $92,000, but traders should watch the $88,000 support level closely. A breach could trigger heightened volatility, while a sustained hold combined with increased institutional flows may set the stage for a potential recovery toward the $100,000 mark.

In short, Bitcoin’s near-term outlook is cautiously optimistic, with stability hinging on support levels, liquidity flows, and institutional behavior.