Bitcoin Whales Are Pulling Back as Activity 'Mirrors' 2022 Bear Market: Analysts
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- CryptoQuant says whale balances (1,000‑10,000 BTC) have declined over the past year, mirroring the 2022 bear market when whale growth turned negative.
- CryptoQuant notes that dolphin holdings (100‑1,000 BTC) have stalled on a monthly basis, indicating a broader slowdown in accumulation.
- CryptoQuant reports that long‑term holder supply rose to 15.8 million BTC, a record high that analysts view as a bearish sign of limited new entrants.
- Bitcoin traded at $73,536, down 1.7% in the last 24 hours and nearly 5% for the week, sitting 42% below its October all‑time high of $126,080.
- Myriad prediction‑market odds have risen that BTC will fall below $70,000 before the end of May.
Why it matters: Institutional investors risk deeper price declines as whale sell‑off and stagnant accumulation cut structural demand, while traders eye sub‑$70k levels, potentially triggering margin calls and reduced liquidity.
