Bitcoin Whales Cash Out at Higher Prices, Flashing Bearish Signal

On-chain analytics firm Santiment classifies wallets holding 10–10,000 Bitcoin as whales, whose fund movements are often used to gauge market trends. When whales sell into higher prices while retail wallets holding less than 0.01 Bitcoin buy, it signals weakening support for the rebound—a pattern historically seen when a market correction has yet to run its course.

Santiment said whales bought between February 23 and March 3, 2026, when Bitcoin traded at $62,900–$69,600. After the cryptocurrency rebounded to $74,000 on March 5, they sold roughly 66% of those positions. On March 7, Glassnode data showed that about 43% of the supply was at a loss, while the Fear and Greed Index fell 6 points to 12.