Bitcoin Tumbles, Whales Sell Off Holdings Amid Crypto Market Woes

The crypto market continues to face intense selling pressure, with Bitcoin (BTC) hovering above $60,000 after whales sold off their holdings. According to on-chain data from Santiment, large-wallet investors have dumped 45,074 BTC over the past eight days.

Total liquidations have reached nearly $1 billion in the last 24 hours, driven by long liquidations of $799 million. This has erased approximately 54% of the total crypto market cap since its peak in October 2025, a staggering loss of around $2.2 trillion.

Despite the bearish trend, DeFi tokens Aave (AAVE) and Jupiter (JUP) have shown resilience, emerging as top gainers over the past 24 hours. AAVE has risen by 10% in the previous day, while JUP hovers above its 200-day EMA at $0.2198.

The broader market remains under intense selling pressure, with Bitcoin defending its key psychological support level of $60,000. The Moving Average Convergence Divergence (MACD) risks crossing below its signal line, hinting at a renewal of bearish momentum.