Bitcoin Price Volatility Continues as Large Sellers Move Out

Two prominent early investors in Bitcoin made significant sales on March 19, disposing of over $117 million worth of cryptocurrency. According to available data, one of these sellers had invested around $1.66 million in Bitcoin roughly 12 years ago and sold approximately 3,500 coins at a profit of over 266 times their initial investment.

The second seller, who has been linked to early investor Owen Gunden, sold 650 BTC on March 19 as part of a larger exit strategy that began in October 2025. Over five months, he moved around $1.16 billion worth of Bitcoin through Kraken, bringing his total tracked wallets to zero.

However, despite these large sales, 'whale' wallets are actively accumulating more coins at an unprecedented pace. In the past 30 days, large holders have added over 270,000 BTC to their wallets, marking the largest single-month accumulation since 2013. This suggests that while some investors may be taking profits, others are positioning themselves for future growth.

The crypto Fear & Greed Index currently stands at 11, matching levels seen during the COVID-19 crash and FTX collapse. In the past, low readings on this index have been followed by positive returns in Bitcoin, with about 80% of instances seeing positive 30-day returns after such periods.