Crypto Whales Shift Bitcoin Profits into Two Altcoins
After Bitcoin surged to a new all-time high of $124,500, data shows large holders (“whales”) are selling BTC to fund positions in two altcoins. Bitcoin’s daily candle closed above the previous high and then retraced toward the $119,000 support zone. Analysts warn that a breakdown below $119,000 could trigger a deeper correction, as stops triggered above the prior peak get swept. Whales appear to be taking profits at the top and reallocating capital into select altcoins, signaling a potential market rotation from Bitcoin into smaller-cap tokens.
Bullish
Whale profit-taking at Bitcoin’s new peak to fund altcoin positions suggests confidence in smaller-cap tokens and an ongoing market rotation. Historically, similar rotations—such as in early 2021—led to rapid altcoin rallies following BTC consolidation. In the short term, Bitcoin may see selling pressure around $119,000 support, but capital flows into altcoins point to bullish momentum across broader crypto markets.