WSJ-Crypto

“Big Bitcoin Players Step Back: Are New Whale Buyers Creating More Sell Pressure and Pain Ahead?”

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Wow! Bitcoin is going through one of its biggest pullbacks in 2025. Investors have been selling like there’s no tomorrow, causing the price to slip back to the $82,000 level. Recent on-chain data shows a big wave of panic among new Bitcoin whale investors during this downturn.

New Bitcoin Whales Feeling the Heat

Since Bitcoin’s price drop from its all-time high, there’s been a major shift in how investors are acting. The excitement is palpable, but it’s not the long-time investors who are sweating; it’s the newer ones.

Over on the X platform, CryptoRus shared that the newest whales—those who just hopped onto the Bitcoin train—are starting to panic. Many of them are selling off their holdings at a loss, adding stress to an already shaky market.

An expert noted that these new whales are capitulating, cashing out at a loss, and contributing to a climate of fear. Meanwhile, the OG whales are holding steady, showing resilience in this chaotic market.

Looking at the charts, it’s exciting to see that the 30-day momentum has turned positive for the first time in weeks! But just as new whale holders are selling off, it signals typical weak-hand behavior.

Bitcoin
New whales are exiting the market | Source: Chart from CryptoRus on X

The chart also reveals that, despite the price swings, the overall balance of whales is on the rise. CryptoRus pointed out that this divergence between the whale balance and BTC’s price often marks significant bottoms in the current market cycle.

In this kind of market, retail investors see the drop while new investors feel the pressure. But those who’ve weathered the market for years are quietly scooping up more Bitcoin in the $80,000 to $95,000 range.

This implies we could be seeing a bottom and a potential rally this coming January, although it doesn’t necessarily mean we’re heading for a bull market. There’s still potential for growth, though the bear market may also linger when OG whales start selling into strength. It’s interesting to see how bottoms form, traps get set, and rallies get kicked off!

Whale Accumulation and Distribution

In the midst of all this market craziness, Darkfost, a writer from CryptoQuant, has noted some interesting movements among Bitcoin whales. Accumulation and distribution are on the rise!

Right now, we see large investors holding 10,000 BTC or more accumulating over 26,300 BTC. In contrast, wallets with 1,000 to 10,000 BTC have distributed over 112,600 BTC. Furthermore, smaller whale groups containing 100 to 1,000 BTC and 10 to 100 BTC have added over 99,800 BTC and 22,400 BTC, respectively.

Overall, large investors seem to be getting back into accumulation mode. But it’s important to remember that some whales may have shifted tiers due to changes in their holdings, particularly between the 1,000–10,000 and 100–1,000 BTC categories.

BTC trading at $86,946 on the 1D chart | Source: BTCUSDT on Tradingview.com

Featured image from Pngtree, chart from Tradingview.com

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