Bitcoin sell-off, whale selling suspicions and shrinking stablecoin supply
Bitcoin and crypto are under pressure with ETF outflows, suspected large spot selling and a $17B monthly drop in stablecoin supply.
Confirmed
- Bitcoin ETFs have seen outflows every day this week, according to commentators
Not yet known
- Whether one or more whales sold billions of BTC on spot markets outside ETFs (speculative)
- Unconfirmed: a $17B monthly drop in stablecoin supply, the steepest since 2022
- Whether Bitcoin has reached a bottom
What we know
An on-chain analyst reports stablecoin supply fell $17B in a month, the steepest drop since 2022. A crypto trader suspects one or more whales have sold billions of BTC on spot outside ETFs (speculative). Commentators note Bitcoin ETFs have seen outflows every day this week. One trader sees no bottom yet, while on-chain data show wallets linked to Erik Voorhees buying 48,647 ETH at about $1,994.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.0m traded · updated 12:58 UTC
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“Stablecoin supply fell by $17B over the last month, the steepest drop since 2022.”
View post →“spent $97M to buy 48,647 $ETH at an average price of $1,994”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.