PANews, March 21: Cryptocurrency analyst Murphy posted a recap of last week’s market dynamics on X, noting unusual capital flows in Bitcoin: On March 11 and 13, as BTC rebounded to $70,000–71,000, a group of whale addresses (each holding over 1,000 BTC) sold 24,867 and 17,818 BTC respectively. The BTC sold on March 11 incurred an average loss of 50% compared to cost basis, while the March 13 sales saw losses of less than 10%. Analysis shows these positions were originally acquired at low prices during May–July 2025 and early April, representing a mix of forced exits after severe losses and well-timed rotations out of positions. On March 17, Strategy bought 22,337 BTC again, absorbing most of the excess supply. Nevertheless, the event highlights that market sentiment remains extremely fragile, as investors holding BTC for nearly a year are gradually losing patience, and future price rebounds may still trigger selling pressure from underwater positions.
Bitcoin whale sell-offs signal market volatility amid losses.
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Summary
Whale trading activity intensified as Bitcoin reached $70,000–$71,000, with significant sell-offs on March 11 and 13, 2026. Whale addresses moved 24,867 and 17,818 BTC, incurring losses of 50% and under 10%, respectively. These positions were acquired in early April and May–July 2025. A large buyer absorbed most of the oversupply on March 17, but support and resistance levels remain fragile as market patience diminishes.
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