Bitcoin Dips Below $86K As Whales Dump $2.78B
Bitcoin fell below $86,000 as smaller buyers accumulated during the drop, but large holders (“whales”) dominated selling, creating sustained downward pressure. Data shows retail and mid-sized traders added $474 million in net spot positions, while whales offloaded $2.78 billion, overwhelming demand and causing a liquidity mismatch. Short-term holder metrics indicate most recent buyers are selling at a loss, a common sign of market capitulation, but sustained recovery is unlikely until this reverses. Technically, Bitcoin’s price broke key support levels, signaling potential decline towards $83,800 or even $80,600 if selling persists. Both order flow and on-chain indicators suggest the bottom may not be in yet, and further patience is warranted.
