On-chain analytics platform Santiment reported on social media that Bitcoin's 13% decline over the past week can be largely attributed to selling by key stakeholders. The data reveals a clear pattern of large holders reducing their positions.
Specifically, whale and shark addresses—those holding between 10 and 10,000 BTC—offloaded a total of 24,602 bitcoins during the 7-day period, representing an 18% reduction in their holdings. This magnitude of selling exerted notable downward pressure on the price of BTC.
In contrast, small traders, defined as addresses holding less than 0.01 BTC, added 61 bitcoin to their positions, a 12% increase. This divergence suggests that the sell pressure was concentrated among large entities, while retail participants contributed a modest buying force.