Bitcoin (BTC) whales have increased their selling pressure since March 30 amid moderate sentiment.
The Bitcoin Exchange Whale Ratio – a metric that tracks the volume of the top 10 exchanges that enter to trade the currency across all platforms – is currently at 0.57, with its 30-day Simple Moving Average (SMA) rising, according to CryptoQuant’s data. In the past, an increase in whale risk has led to increased sales and has led to lower prices.
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The surge in Bitcoin whaling is also supported by the negative side of its 30-day % change, a metric that monitors whether holders of large wallets are increasing or decreasing their BTC reserves over time. After a dramatic increase at the beginning of the year, this indicator changed in March, indicating that the whales have switched from buying to distributing.
What is the effect of the renewed pressure to sell Bitcoin on the BTC price?
Like whale investors managed by Mara Holdings (NASDAQ: MARA) supported their withdrawal from Bitcoin, the leading currency has faced difficulties in selling.
As the threat of a sell-off is growing in the market, BTC has repeatedly failed to break the resistance zone around $71,000 in the past few weeks. The stock is down 3.29% in the past seven days, trading at around $67,780 at press time.
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The pressure to resell has led to the possibility of an opportunity similar to the fall of Bitcoin in February 2026, according to analysis business analyst Ali Martinez. Martinez pointed out that BTC has been forming a descending triangle in the last two months – a well-known pattern characterized by a downward resistance line and a low support area – which, combined with the rising distribution of whales, increases the risk.
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