Yeliz Akmaca 
Significant selling in the Bitcoin market has drawn attention, bringing the “weak hands” debate back into focus. Large transfers of BTC from long-term holders to exchanges are triggering a new wave of market declines. “Weak hands” refers to investors who panic-sell during market swings.
Early Bitcoin Investor Sales Increase Market Pressure
Peter Schiff stated that Bitcoin is finally experiencing its “IPO moment,” as long-term investors are cashing out amid sufficient market liquidity. According to Schiff, the transfer of BTC from long-term holders to weak hands sets the stage for larger future corrections. In October, whales sold more than 400,000 BTC, exerting significant selling pressure and pushing Bitcoin below $85,000. Moreover, ETF flows slowed down, further weakening risk appetite.
The term “IPO moment” reflects Bitcoin reaching a level of maturity where early investors can sell significant amounts for the first time. Some of these sales were strategic profit-taking by long-term portfolios, while blockchain regulations and macro risks also contributed to increased volatility.
High-Profile Investors Cash Out BTC Positions
Early Bitcoin investor Owen Gunden sold a total of 11,000 BTC during October and November, equivalent to about $1.3 billion, making it one of the largest individual cash-outs in the market. Robert Kiyosaki also sold his $2.25 million BTC holdings, purchased at around $6,000 per coin and sold near $90,000. He plans to channel the profits into income-generating businesses and may repurchase Bitcoin with positive cash flow in the future.
Analysts note that these large sales triggered chained liquidations in crypto derivatives markets. Consequently, short-term declines accelerated, placing the crypto market under significant pressure.
Experts Predict Sharper Drops Due to “Weak Hands”
Bitfinex analysts emphasize that Bitcoin’s fundamentals remain strong for institutional investors. However, low conviction among retail traders poses a critical risk. Vineet Budki, CEO of Sigma Capital, warned that weak hands panic-selling could trigger up to a 70% decline in the next bear market. Current volatility is also negatively impacting overall market sentiment.
ETF demand, macro liquidity conditions, and institutional behavior will be decisive in this process, ultimately clarifying Bitcoin’s long-term trajectory.
What’s Next for Bitcoin?
Despite strong fundamentals, short-term selling pressure persists. On the other hand, renewed institutional demand, stronger ETF flows, and improving macro conditions could support BTC prices. Still, the market remains vulnerable to potential panic sales by weak hands. As a result, investors are advised to focus more on risk management and strategic positioning.
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