Odaily Planet Daily News Glassnode tweeted that since May 30, the total balance held by Bitcoin giant whale addresses has decreased by about 255,000 BTC. This trend represents the largest monthly balance decline in history, reaching 148,000 BTC.
Glassnode’s report also suggests that “notable shifts” are taking place in the Bitcoin whale population, with whale activity in 2023 largely driven by short-term holders (STH), with each rally and correction since FTX’s massive crash , the profit or loss of STH increased by more than 10,000 BTC respectively.