**A wave of selling from Bitcoin's largest investors, colloquially known as "whales," has sparked a significant market correction, marking the most substantial divestment from this group in nearly two years.**

In a striking shift of market behavior, entities holding large amounts of Bitcoin have offloaded approximately 115,000 BTC over the past fortnight. This substantial movement, valued at around $5 billion, represents the most significant coordinated sell-off since the depths of the 2022 bear market, according to data from blockchain analytics firm CryptoQuant.

The sell-off is identified as a primary catalyst behind the recent downturn in Bitcoin's price, which has retreated from its multi-year highs set in March. Analysts note that the whales' decision to cash out has created a powerful wave of selling pressure, overwhelming current market demand.

"This is a classic sign of profit-taking after a strong rally," noted a market analyst from CryptoQuant. "These large holders bought at lower prices and are now capitalizing on the impressive gains witnessed over the past several months."

The whale exodus was compounded by another critical factor: consistent outflows from U.S.-based spot Bitcoin Exchange-Traded Funds (ETFs). After a period of record inflows that helped propel Bitcoin's price upward, these funds have recently seen a reversal, with investors pulling capital out. This dual source of selling—from both large individual holders and institutional-grade ETFs—created a perfect storm that accelerated the price drop.

The current activity signals a potential shift in market sentiment. The previous months were characterized by robust accumulation, where whales and ETFs were net buyers. The sudden reversal to distribution suggests that key players believe the market may be due for a cooldown or are seeking to secure profits before potential further volatility.

While the short-term outlook appears bearish, some market veterans advise caution against overreacting. Bitcoin is known for its cyclicality, and corrections are a common feature within longer-term bull markets. The coming weeks will be crucial in determining whether this sell-off is a brief pause or the beginning of a more sustained downward trend.

All eyes are now on whether the selling pressure will subside and if a new floor for the price can be established, or if the market should brace for further volatility from its largest participants.