Bitcoin whales are panic-selling amid price drop, says Glassnode

On-chain data platform Glassnode said on X that as Bitcoin's price has fallen significantly from its peak, BTC whale addresses holding between 100 and 10,000 BTC are realizing large-scale losses. The firm's analysis showed that based on the seven-day Exponential Moving Average (EMA) of Net Realized Profit & Loss for Bitcoin investors, the scale of daily losses has surpassed $200 million, which it described as a typical panic-selling trend among BTC whales.