Bitcoin Falls 17% in November on Whale Selling

Bitcoin's price has tumbled nearly 17 percent in November, marking its worst monthly performance since 2019, amid heavy selling pressure from large holders known as whales. The cryptocurrency, which peaked above 126,000 dollars in early October, dipped to a seven-month low of around 80,600 dollars on November 21 before recovering to approximately 91,500 dollars as of late Thursday.

The downturn stems from a surge in whale activity, with major investors depositing substantial amounts of Bitcoin onto exchanges like Binance. Data from CryptoQuant indicates that whales transferred 7.5 billion dollars worth of Bitcoin to the platform over the past 30 days, the highest volume in a calendar year. This influx, which analysts compare to patterns preceding a March 2025 price drop from 102,000 dollars to the low 70,000-dollar range, reflects strategies to take profits or manage risks during market weakness. On November 21 alone, whales deposited over 9,000 Bitcoin onto exchanges, a move CryptoQuant analysts directly linked to that day's sharp decline.

Individual whale transactions underscore the capitulation. One large holder, who withdrew 500 Bitcoin from Binance in October at a price...