Key Takeaways
- Bitcoin whale activity is projected to reach a yearly high in weekly transactions as BTC dipped below $90,000.
- Market intelligence platform Santiment reported over 102,000 whale transactions exceeding $100,000, and 29,000 over $1 million.
- Contrary to some speculation of whale selling, data from Glassnode indicates accumulation by large holders since late October.
- Analysts suggest whales are buying the dip, viewing the market downturn as a necessary reset and buying opportunity.
- One expert believes a forced seller is impacting the market, causing systematic selling during specific hours, but predicts it will end soon.
Bitcoin whale activity is set to experience its highest spike in weekly transactions this year, following Bitcoin’s recent drop below $90,000. This observation comes from market intelligence platform Santiment.
The increase in whale activity has coincided with a general slump in cryptocurrency prices, as noted by Santiment in a recent social media post. Bitcoin (BTC) saw its price fall below $90,000 this week, marking the first time in seven months this has occurred.
Santiment has already recorded over 102,000 whale transactions exceeding $100,000, along with an additional 29,000 transactions valued over $1 million.
“This week has a good chance of ending up as the most active whale week of 2025, with the context of these whale moves gradually turning from dumping to accumulating again,” Santiment stated.
While some analysts have attributed the recent crypto market pullback partly to whale selling, conflicting data offers a different perspective.
Data from the analytics platform Glassnode reveals that large holders have actually been accumulating Bitcoin since late October. A significant surge in the number of whale wallets holding over 1,000 Bitcoin was observed starting last Friday.
Whales Capitalize on Market Dip
Pav Hundal, lead analyst at crypto trading platform Swyftx, commented that news cycles have historically driven spikes in whale activity over the past year. He suggested that geopolitical events, particularly in the US, have led to significant twitch trading.
“BTC has rallied in the wake of Nvidia’s bumper results and that suggests to me that both whales and retail are stepping in and buying,” Hundal explained. He also highlighted that Swyftx’s own order books showed a record buy-to-sell ratio of 10:1 in early trading, significantly higher than the average of 3:1. This indicates that investors are actively buying the dip.
“The market is irrational at the moment. We’ve seen an unprecedented shake-out of short-term holders over the last few weeks. When you look at the data, I see this as mechanical shakeout. This looks like a much needed washout and reset for the market,” Hundal added.
Bradley Duke, managing director and head of Bitwise Asset Management in Europe, echoed this sentiment in a social media post. He noted that despite fear and panic gripping the market, whales have been actively buying during the downturn.
“While fear and panic had afflicted many investors, the number of BTC Whales has spiked up of late. Large holders are keeping a level head and buying at discount prices from panic sellers. Stay strong,” Duke advised.
Signs of a Forced Seller
Tushar Jain, co-founder and managing partner of investment firm Multicoin Capital, suggested that the current selling pattern indicates the presence of a big forced seller in the market. In a social media post, Jain observed systematic selling during specific hours.
“It feels like a big forced seller is in the market. We are seeing systematic selling during specific hours. Probably a consequence of 10/10 liquidations. Hard to imagine this scale of forced selling continues for much longer,” Jain remarked, speculating that this trend might soon conclude.
💡 This speculation aligns with predictions made by BitMine chairman Tom Lee and Bitwise Asset Management chief investment officer Matt Hougan. Both experts suggested earlier this week that Bitcoin could reach a bottom very soon, signaling a potential turning point for the market.
Final Thoughts
The recent dip in Bitcoin’s price has triggered a significant increase in whale activity, with large holders appearing to accumulate rather than deplete their assets. While some speculate about market manipulation, many analysts view this period as a healthy market correction and a prime opportunity for strategic buying. The expectation is that this selling pressure, potentially from a forced seller, will subside, leading to a market rebound.
