- Whale sentiment flips as short positions drop to near zero
- Metaplanet adds 1,088 BTC, pushing holdings to 8,888 coins
- $109K liquidity zone could fuel Bitcoin’s next breakout
Whale sentiment around Bitcoin has taken a dramatic turn. Alphractal’s latest report states that large market players have stopped shorting the asset. The chart shows that the number of negative positions has dropped which suggests that bearish pressure has diminished. As whales start to buy Bitcoin instead of betting against it, this could signal BTC is gaining momentum.
Joao Wedson pointed out that whales have stopped shorting which may help Bitcoin begin the week in a good position. Traders are on the lookout for any sign of a breakout because the market sentiment is now neutral to positive. If the current trends continue, Bitcoin could start to rise again in June.
Bitcoin Whale Accumulation on the Rise
Analysts Vivek and Crypto Rover both shared clear data that showed aggressive whale accumulation. Total Whale Holdings chart shows a huge increase in whale balances, with a sharp rise in the 30-day % change. It appears that institutions have renewed trust in Bitcoin’s future, especially as the price gets closer to $110,000.
Crypto Rover’s multi-year analysis adds to this view. It indicates that whales have been increasing their Bitcoin assets since late 2024. The rise in prices is similar to past bull runs which suggests big investors are ready for a big move. In the past such behavior has often come before explosive price rallies.
Divergence Shows in Whale Behaviour
Another analyst Kyle Doops points out some additional factors to this bullish. His chart reveals divergence in the behavior between different whale tiers. Wallets with 1K–10K BTC have begun to sell, possibly because they want to take profits after the recent rise. Meanwhile, mid-sized holders (100–1K BTC) are actively accumulating, following Bitcoin’s rise past $100,000.
The distribution pattern now suggests there could be a transition period ahead. Early players in the market are reducing their risks, but new entrants are entering the market and supporting demand. This indicates that the current rally is near the end where small investors could drive prices higher as whales shift their investments.
Liquidation Could Lead to Price Drop Below Support
On-chain data also points out important liquidity levels. Bitcoin has fallen to $104,536 below the $105,000 support level. A group of orders to sell at $109,933 could pull the price down toward that point. This is due to the hope that the market will recover if buyers keep their strength.
Metaplanet’s purchase of 1,088 BTC for $114 million shows that whales are still massively buying. They now hold 8,888 BTC which is worth $930 million. This move shows that Bitcoin is still attractive at its current price and that more companies are interested in it.
As at press time, BTC price sits at $105,251.67