Coinciding with a fresh ceasefire on Tuesday, Bitcoin soared to $105,900, and hopes for a sustained rally began to stir. But the excitement was shortlived. Panic selling, backed by the spread of FUD from some new Bitcoin whales, is furiously pounding into market volatility. Is this a passing tremor or the start of something bigger?
CryptoQuant has identified an essential culprit, the panick-stricken “new whale” investors. These upstart, well-heeled investors are scaring away One-Digit Bitcoin holders, being made to throw their whole leg in offshore markets with acute volatility and cruel dips. Extended days of sell-off fueled by fear have gone ahead to amplify downward spirals and shake the foundations of the market.
How New Whales Drive Bitcoin’s Recent Price Swings
Since mid-June, Bitcoin has fluctuated widely. It started June near $107,000, rose above $110,000, and plunged below $100,000.
It would have been quite a time for witnessing the stinging with losses amounting to $228 million squeezing it in between the 14th and 22nd of June, as per CryptoQuant’s JA Maartunn output. There was a sharp blow on June 17, a $95-million whammy-crushing realization of mammoth Bitcoin losses by the whales!
Most of these losses nearly $85 million came from new whales, compared to only $8.2 million from older whale investors.
Another notable spike appeared on June 22, totaling $51 million, more evenly split between new and old whales.
Bitcoin Whales Realized Profits. Source: CryptoQuant
Whales newly recruited, their blood noise still wet behind ears from the fresh price surge, proving skittish at the stimulus of geopolitical tremors. High-on-entry buyers are quick to liquidate, fomenting market volatility and hardening resistance walls near $111,000. They are mourning while the candle is burning.
Exchange Whale Ratio Shows Selling Pressure
Further supporting this trend, CryptoQuant’s Exchange Whale Ratio remained elevated through much of June.
Is the Bitcoin tide turning? The indicator tracks the whale movements on exchanges. High readings are indicative of massive holders flooding the exchanges with Bitcoin, which is usually followed by huge sell-offs.
Bitcoin flirted with $110,000, while whales panicked beneath. The on-chain data revealed a growing sell order wall at that price, indicating that these crypto titans would cap Bitcoin’s rally to make substantial profits.
The ratio briefly fell as Bitcoin dipped below $102,000, then climbed again when prices rebounded toward $105,900.
Bitcoin Exchange Whale Ratio. Source: CryptoQuant
This activity suggests whales continuously manage risk, creating selling pressure and market uncertainty.
Geopolitical Uncertainty Amplifies Whale Anxiety
Recent geopolitical events including the Israel-Iran war and subsequent ceasefire announcement have increased market nervousness.
Newer whale investors seem especially sensitive, reacting quickly to negative headlines.
Such rapid selling triggers further volatility. Leveraged traders face margin calls, amplifying price declines and hindering sustained upward momentum.
Are bulls capable of holding the fort? For Bitcoin’s conquest of $111,000 and holding there, the leviathans need to curb their selling frenzy. Watch for realized losses going down and exchange inflows drying- those are the crumbs of market faith being restored.
Thanks for reading New Bitcoin Whales Are Fueling Market Volatility | Weekly Whale Watch
