Analyst: Bitcoin whales are selling, MSTR's buying eases pressure, but market sentiment remains fragile
Odaily reported that crypto analyst Murphy posted on the X platform to review last week's market dynamics. Monitoring showed abnormal capital flows in bitcoin: on March 11 and 13, when BTC rebounded to $70,000–$71,000, a group of whale addresses (each holding more than 1,000 BTC) sold 24,867 and 17,818 BTC, respectively. The chips sold on March 11 suffered an average loss of 50% compared to their cost, while the chips sold on March 13 had losses of less than 10%.
Analysis shows that these chips originated from low purchases in May–July 2025 and early April, with some exiting after severe losses and others rotating out after accurately buying the bottom. Strategy bought 22,337 BTC again on March 17, absorbing most of the excess supply. Nevertheless, this event reflects that market sentiment remains extremely fragile, and the patience of investors holding BTC for nearly a year is gradually being exhausted. Future price rebounds may still trigger pressure from loss-making chips.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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