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Bitcoin Whale Breaks Silence With $26 Million Transfer — What’s Going On?
Based on reports, a long-dormant Bitcoin whale made a surprise move this week, snapping up 250 BTC for about $26.37 million. It’s the first time this wallet has shown activity in two years. Related Reading: Bitcoin To Hit $180,000 In 2025? Analyst Highlights The Trigger The purchase has stirred talk among traders and on-chain analysts alike. Some see it as a sign that big players are getting ready for more action in the weeks ahead. Whale Returns After Two Years According to Lookonchain data, the same whale pulled 500 BTC out of Gemini back in 2022 when Bitcoin was trading near $27,400, a move worth nearly $14 million at the time. Now, with BTC hovering around $105,000, the whale’s holdings sit on an unrealized gain of over $39 million. That kind of profit margin grabs attention. Other large holders often watch these moves closely. They wonder if this is the start of a wider trend or just one wallet’s play. A whale that had been dormant for 2 years bought another 250 $BTC($26.37M) 9 hours ago. 2 years ago, this whale withdrew 500 $BTC($13.7M) from Gemini at $27,401, now sitting on an unrealized profit of $39M.https://t.co/c0U92isSfc pic.twitter.com/vcb4V3M0Uz — Lookonchain (@lookonchain) June 8, 2025 Big Gains On Early Bet Early adopters have seen massive upside in Bitcoin over the years. This whale’s 2022 withdrawal came just before a multi-year price boom. Since then, Bitcoin has climbed nearly 300%. Not everyone can make moves like that. Small investors often feel left behind when a wallet this size shifts coins. Still, some traders say it can create a ripple of optimism. When big holders buy, retail traders sometimes pile in, chasing the same gains. Technical Indicators Show Mixed Signals On the charts, BTC seems to be shaping an inverse cup-and-handle pattern with a significant neckline at $100,800 serving as major support. The price has fallen into the handle stage, and a dip below $100,800 could propel Bitcoin to $91,000, which coincides with its 200-day exponential moving average (EMA). Bitcoin’s relative strength index (RSI) is 52, indicating the bullish momentum is fading. A fall below 50 could introduce additional selling pressure. For the bulls to regain control, BTC must recapture the 20-day EMA resistance, which is just above $105,000. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Market Volatility And Liquidations There were some wild price movements last week fueled in part by social media battles between US President Donald Trump and billionaire Elon Musk. The price of bitcoin fell below $101,000 for a moment, causing close to $1 billion in liquidations across futures markets, before recovering to above $105,000 within hours. The miner capitulation signal was also detected by CryptoQuant’s Hash Ribbons indicator, pointing to near-term pain for worse-off miners, but some potential rallies ahead once they pulled through. Featured image from Unsplash, chart from TradingView
Bitcoin Leveraged Traders Are Back Betting On A Price Decline — What This Means
The price of Bitcoin has been in a good recovery form since succumbing to the bearish pressure from the ongoing feud between United States President Donald Trump and Elon Musk. The premier cryptocurrency climbed above the $105,000 mark in the early hours of Saturday, June 7. According to the latest on-chain data, the Bitcoin price looks set to continue its upward trajectory over the next few days. What Negative Leveraged Traders’ Sentiment Means For Price In a new post on the X platform, data analytics firm Alphractal shared fresh on-chain insights into the recent movement of the Bitcoin price. According to the market intelligence firm, the major catalyst of BTC’s latest recovery is the sudden shift in the market sentiment. Related Reading: Bitcoin Golden Cross Pattern Says The Crash To $100,000 Is Normal – What To Expect Next This on-chain observation is based on the Leveraged Traders’ Sentiment, which tracks the outlook or positioning of leveraged traders in the market. It provides insight into the kind of bets (longs or shorts) that leveraged traders are placing in the crypto market and the funding rates of the derivatives market. Data from Alphractal shows a rising interest in opening short positions in the Bitcoin market, with most retail traders betting on a price decline. Ultimately, this on-chain trend suggests that the sentiment in the Bitcoin derivatives market is currently bearish. However, Alphractal noted that this kind of behavior might not be as straightforward as it looks, as the market historically tends to move in the crowd’s opposite direction. Hence, when several traders are betting on a Bitcoin price decline, the flagship cryptocurrency tends to witness a contrasting market bounce. Alphractal said: When sentiment becomes excessively bullish or bearish, the market tends to do the opposite. Therefore, this metric is not just a sentiment gauge — it’s also a warning signal for potential contrarian moves that often catch traders off guard. According to the analytics firm, this is exactly what is currently happening in the Bitcoin market, with the market leader bouncing back despite the negative traders’ sentiment. Interestingly, if these leveraged traders continue to bet against Bitcoin, the BTC price could potentially ride this fresh bullish momentum to a new all-time high. Bitcoin Price At A Glance As of this writing, BTC is valued at around $105,700, reflecting an almost 2% increase in the past 24 hours. Following the latest resurgence, the premier cryptocurrency is now up by more than 1% on the weekly timeframe. Related Reading: Bitcoin Recovers From $100K Dip While On-Chain Data Shows Rising Miner Activity Featured image from iStock, chart from TradingView
Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout
Bitcoin prices have returned above $105,000 in the past 24 hours following a sharp price decline on Thursday triggered by macroeconomic pressures. Notably, US President Donald Trump and former political ally Elon Musk had engaged in a public spat which spiked the volatility in a crypto market already undergoing a corrective phase. Amidst some level of renewed stability in the last two days, popular analytics firm Glassnode has now shared an important on-chain analysis highlighting the presently key price levels in the Bitcoin market. Related Reading: Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000? Bitcoin Ready For Breakout As Traders Eye $114K And $83K Levels In an X post on June 7, Glassnode provides an insight on potential Bitcoin price action using the Short-Term Holder (STH) cost basis model, derived from the Work of Cost (WOC) price framework. As the name implies, the STH cost basis represents the average purchased price of all coins belonging to short-term holders i.e. investors who acquired their Bitcoin within the last 155 days. The STH cost basis is an important market metric as it reflects the risk appetite of newer market participants who are typically the most reactive to price change. It is also a strong indicator of market sentiment with an ability to act as resistance or support depending on the price direction. According to the data by Glassnode, the current Bitcoin STH cost basis is estimated at $97,100. Using standard deviation bands in this WOC model, Glassnode has further identified the $114,800 price level as the +1STD level of this cost basis and a potentially heated market zone. Considering Bitcoin’s price, this $114,800 price zone represents the next major resistance, a break above which is expected to trigger a massive buying pressure and push the premier cryptocurrency further into uncharted price territory. Glassnode’s WOC model also identifies the -1STD level at $83,200 to represent a critical support zone in the present bullish structure. A decisive price fall below this level would signal market weakness and is likely to cause a cascade of liquidations and further price corrections. Related Reading: Crypto Analyst Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know Bitcoin Price Overview At the time of writing, Bitcoin trades at $105,745 reflecting a 1.07% gain in the last 24 hours. Meanwhile, the asset’s daily trading volume is down by 34.27% and valued at $38.66 billion. Provided Bitcoin continues to consolidate above the STH cost basis at $97,100, there is a valid chance for a market bullish push towards resistance at $114,800. However, a loss of the critical support at $97,100 would points to a retest at $83,200 which holds strong potential bearish consequences. Featured image from iStock, chart from Tradingview
Bitcoin Whale Breaks Silence With $26 Million Transfer — What’s Going On?
Based on reports, a long-dormant Bitcoin whale made a surprise move this week, snapping up 250 BTC for about $26.37 million. It’s the first time this wallet has shown activity in two years. Related Reading: Bitcoin To Hit $180,000 In 2025? Analyst Highlights The Trigger The purchase has stirred talk among traders and on-chain analysts alike. Some see it as a sign that big players are getting ready for more action in the weeks ahead. Whale Returns After Two Years According to Lookonchain data, the same whale pulled 500 BTC out of Gemini back in 2022 when Bitcoin was trading near $27,400, a move worth nearly $14 million at the time. Now, with BTC hovering around $105,000, the whale’s holdings sit on an unrealized gain of over $39 million. That kind of profit margin grabs attention. Other large holders often watch these moves closely. They wonder if this is the start of a wider trend or just one wallet’s play. A whale that had been dormant for 2 years bought another 250 $BTC($26.37M) 9 hours ago. 2 years ago, this whale withdrew 500 $BTC($13.7M) from Gemini at $27,401, now sitting on an unrealized profit of $39M.https://t.co/c0U92isSfc pic.twitter.com/vcb4V3M0Uz — Lookonchain (@lookonchain) June 8, 2025 Big Gains On Early Bet Early adopters have seen massive upside in Bitcoin over the years. This whale’s 2022 withdrawal came just before a multi-year price boom. Since then, Bitcoin has climbed nearly 300%. Not everyone can make moves like that. Small investors often feel left behind when a wallet this size shifts coins. Still, some traders say it can create a ripple of optimism. When big holders buy, retail traders sometimes pile in, chasing the same gains. Technical Indicators Show Mixed Signals On the charts, BTC seems to be shaping an inverse cup-and-handle pattern with a significant neckline at $100,800 serving as major support. The price has fallen into the handle stage, and a dip below $100,800 could propel Bitcoin to $91,000, which coincides with its 200-day exponential moving average (EMA). Bitcoin’s relative strength index (RSI) is 52, indicating the bullish momentum is fading. A fall below 50 could introduce additional selling pressure. For the bulls to regain control, BTC must recapture the 20-day EMA resistance, which is just above $105,000. Related Reading: Elon Musk ‘Will Do Anything’ To Make XRP King, Tech Mogul Says Market Volatility And Liquidations There were some wild price movements last week fueled in part by social media battles between US President Donald Trump and billionaire Elon Musk. The price of bitcoin fell below $101,000 for a moment, causing close to $1 billion in liquidations across futures markets, before recovering to above $105,000 within hours. The miner capitulation signal was also detected by CryptoQuant’s Hash Ribbons indicator, pointing to near-term pain for worse-off miners, but some potential rallies ahead once they pulled through. Featured image from Unsplash, chart from TradingView
Bitcoin Leveraged Traders Are Back Betting On A Price Decline — What This Means
The price of Bitcoin has been in a good recovery form since succumbing to the bearish pressure from the ongoing feud between United States President Donald Trump and Elon Musk. The premier cryptocurrency climbed above the $105,000 mark in the early hours of Saturday, June 7. According to the latest on-chain data, the Bitcoin price looks set to continue its upward trajectory over the next few days. What Negative Leveraged Traders’ Sentiment Means For Price In a new post on the X platform, data analytics firm Alphractal shared fresh on-chain insights into the recent movement of the Bitcoin price. According to the market intelligence firm, the major catalyst of BTC’s latest recovery is the sudden shift in the market sentiment. Related Reading: Bitcoin Golden Cross Pattern Says The Crash To $100,000 Is Normal – What To Expect Next This on-chain observation is based on the Leveraged Traders’ Sentiment, which tracks the outlook or positioning of leveraged traders in the market. It provides insight into the kind of bets (longs or shorts) that leveraged traders are placing in the crypto market and the funding rates of the derivatives market. Data from Alphractal shows a rising interest in opening short positions in the Bitcoin market, with most retail traders betting on a price decline. Ultimately, this on-chain trend suggests that the sentiment in the Bitcoin derivatives market is currently bearish. However, Alphractal noted that this kind of behavior might not be as straightforward as it looks, as the market historically tends to move in the crowd’s opposite direction. Hence, when several traders are betting on a Bitcoin price decline, the flagship cryptocurrency tends to witness a contrasting market bounce. Alphractal said: When sentiment becomes excessively bullish or bearish, the market tends to do the opposite. Therefore, this metric is not just a sentiment gauge — it’s also a warning signal for potential contrarian moves that often catch traders off guard. According to the analytics firm, this is exactly what is currently happening in the Bitcoin market, with the market leader bouncing back despite the negative traders’ sentiment. Interestingly, if these leveraged traders continue to bet against Bitcoin, the BTC price could potentially ride this fresh bullish momentum to a new all-time high. Bitcoin Price At A Glance As of this writing, BTC is valued at around $105,700, reflecting an almost 2% increase in the past 24 hours. Following the latest resurgence, the premier cryptocurrency is now up by more than 1% on the weekly timeframe. Related Reading: Bitcoin Recovers From $100K Dip While On-Chain Data Shows Rising Miner Activity Featured image from iStock, chart from TradingView
Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout
Bitcoin prices have returned above $105,000 in the past 24 hours following a sharp price decline on Thursday triggered by macroeconomic pressures. Notably, US President Donald Trump and former political ally Elon Musk had engaged in a public spat which spiked the volatility in a crypto market already undergoing a corrective phase. Amidst some level of renewed stability in the last two days, popular analytics firm Glassnode has now shared an important on-chain analysis highlighting the presently key price levels in the Bitcoin market. Related Reading: Can Bitcoin Price Bounce To $120,000 Or Will It Break Below $100,000? Bitcoin Ready For Breakout As Traders Eye $114K And $83K Levels In an X post on June 7, Glassnode provides an insight on potential Bitcoin price action using the Short-Term Holder (STH) cost basis model, derived from the Work of Cost (WOC) price framework. As the name implies, the STH cost basis represents the average purchased price of all coins belonging to short-term holders i.e. investors who acquired their Bitcoin within the last 155 days. The STH cost basis is an important market metric as it reflects the risk appetite of newer market participants who are typically the most reactive to price change. It is also a strong indicator of market sentiment with an ability to act as resistance or support depending on the price direction. According to the data by Glassnode, the current Bitcoin STH cost basis is estimated at $97,100. Using standard deviation bands in this WOC model, Glassnode has further identified the $114,800 price level as the +1STD level of this cost basis and a potentially heated market zone. Considering Bitcoin’s price, this $114,800 price zone represents the next major resistance, a break above which is expected to trigger a massive buying pressure and push the premier cryptocurrency further into uncharted price territory. Glassnode’s WOC model also identifies the -1STD level at $83,200 to represent a critical support zone in the present bullish structure. A decisive price fall below this level would signal market weakness and is likely to cause a cascade of liquidations and further price corrections. Related Reading: Crypto Analyst Says This Bitcoin Top Signal Hasn’t Gone Off Yet — What To Know Bitcoin Price Overview At the time of writing, Bitcoin trades at $105,745 reflecting a 1.07% gain in the last 24 hours. Meanwhile, the asset’s daily trading volume is down by 34.27% and valued at $38.66 billion. Provided Bitcoin continues to consolidate above the STH cost basis at $97,100, there is a valid chance for a market bullish push towards resistance at $114,800. However, a loss of the critical support at $97,100 would points to a retest at $83,200 which holds strong potential bearish consequences. Featured image from iStock, chart from Tradingview