Bitcoin Whales Gobble 83K BTC While Retail Panic-Sells—Is $110K the Next Stop?
Big money moves in as small traders flee—classic crypto whipsaw behavior. Bitcoin’s whale wallets just swallowed 83,000 coins worth over $5 billion at current prices, while retail investors dumped holdings amid recent volatility.
Key signals to watch: Exchange reserves are dropping (bullish), but derivatives markets show overheated leverage (danger zone). The $110K price target hinges on whether institutional demand outweighs weak-handed retail exits.
Meanwhile, Wall Street ’experts’ who called Bitcoin dead at $16K are suddenly revising price targets upward. Funny how that works.
Whales Buy the Dip, Retail Sells the Rally
Santiment analysts noted clear signs that smaller wallets were taking profits, likely out of fear of a market top, while whales and sharks were doubling down. This stark divergence, especially the large-scale accumulation, led the analysts to suggest that Bitcoin’s next push up may only be “a matter of time” and could see the asset breach the $110,000 level to usher in a new ATH.
The prediction is based on growing macroeconomic optimism, after the flagship cryptocurrency soared to $105,800 on May 12 following news of de-escalating trade tensions between the United States and China.
The two squabbling nations have agreed to cease tariff hostilities for 90 days, with the U.S. slashing taxes on Chinese imports from 145% to 30% and Beijing bringing down its levies on American-made goods from 125% to 10%.
However, while the agreement spurred rallies in global equities and crypto, Santiment urged caution at the time, noting in an earlier post on X that the announcement may only outline a framework deal, not an executed agreement.
The experts advised, “Avoid overextending until confirmations are made,” warning of a potential “buy the rumor, sell the news” pullback.
Still, institutional confidence remains unshaken. Yesterday, Michael Saylor’s Strategy added 13,390 BTC to its books for $1.34 billion, averaging $99,856 for each. The purchase brings its total holding to 568,840 BTC, worth over $59 billion, translating to about $20 billion in unrealized profit.
Not to be left behind, Metaplanet also announced a more modest $126.7 million acquisition of 1,271 BTC, at $102,119 each. The buy took the Tokyo-based company’s BTC reserves to 6,796, eclipsing El Salvador’s and pushing its BTC Yield for the year to 170%.
Price Action
Looking at the market, the world’s largest cryptocurrency by market cap is showing signs of consolidation after its recent spike. At the time of going to press, it was trading at $102,427, down about 1.8% in the last 24 hours.
Additionally, although it’s up 8.5% on the week, it slightly underperformed compared to the broader crypto market, which gained 10.5% in that time. However, BTC has continued to shine across longer periods, up 21.2% for the month and 68.1% year-on-year, even though it remains 5.7% shy of its $108,786 ATH set earlier in the year.
