Whales Panic-Sell $10.5M While Mega Whales Accumulate 103k BTC
Bitcoin faces sustained selling pressure around $90,000 as short- and mid-term indicators turn bearish. On-chain data shows a whale sold 500 BTC (≈$45.37M), crystallizing a loss of about $10.5M after buying at ~$111,899 per BTC in October. Short-term holders realized roughly 10,200 BTC in losses while long-term holders realized over 2,237 BTC, signaling depth and duration to the downturn. Technicals are weak: BTC trades below the 20-, 50-, 100- and 200-day moving averages and the DMI shows -DI (~41) >> +DI (~16), indicating dominant downward momentum. Support near $86,497 is possible if losses continue; upside resistance tests include EMA20 (~$92,942) and EMA50 (~$100,131) should mega whale buying absorb selling pressure. Notably, the largest wallets (“mega whales”) accumulated a net ~103,000 BTC over three days, returning balances to mid-October levels — treating the dip as a buying opportunity. U.S. spot Bitcoin ETFs posted modest inflows, suggesting institutional dip-buying interest remains but hasn’t yet restored market confidence. For traders: expect continued volatility and asymmetric order flow — short-term bearish bias until technicals and realized selling abate, while concentrated accumulation by mega whales and ETF inflows create potential medium-term bullish catalysts if buying persists.
Neutral
The article presents mixed signals. Downside: significant realized losses (500 BTC sale, 10,200 BTC by STH, 2,237 BTC by LTH), BTC trading below major moving averages, and a DMI reading showing strong negative momentum — all point to continued short-term bearish pressure and elevated volatility. Upside: cluster buying by "mega whales" (net ~103,000 BTC over three days) and modest inflows into U.S. spot Bitcoin ETFs indicate concentrated accumulation and institutional interest that could stabilize prices if sustained. Historically, large-scale realized losses and panic selling can push prices lower in the short term (e.g., capitulation events), while concentrated accumulation by large holders and ETF inflows have preceded recoveries when selling is absorbed (seen after prior drawdowns post-2021 and around earlier ETF flow shifts). Therefore, immediate trading bias is cautious-to-bearish until technicals and realized loss metrics improve; however, medium-term outlook could turn constructive if mega whale accumulation and ETF inflows continue to absorb supply.