Bitcoin has been under pressure after its price dropped below $90,000 recently, prompting warnings from analysts about increased selling activity.

Key Insights:

• New Bitcoin (BTC) whales, holding for less than 155 days, now control more realized capital than older long-term holders.
• Activity from these large holders suggests a significant sell-off potential at around $95,000 to $90,000.
• Analysts believe a downturn could lead Bitcoin’s price toward $85,000, based on current bearish data.

New Whale Dynamics

CryptoQuant analyst Moreno DV highlighted a shift as new whales, each holding more than 1,000 BTC and less than 155 days old, are becoming predominant players. This shift indicates that these newer holders now have more capital at stake than those who’ve held Bitcoin longer, as shown in the following analysis:

Bitcoin realized cap of New and Old Whales. Source: CryptoQuant

The realized cap of these whales is close to $98,000. As BTC’s market price lingers below this threshold, these new stakeholders are experiencing $6 billion in unrealized losses.

Exchange Activity Signals Concern

Data from crypto exchanges indicates a growing risk of price decline. Recent metrics show that significant BTC inflows are primarily from large wallet transactions, which could suggest selling or funds reallocation. If this trend continues without a price recovery above $95,000 to $98,000, the downturn could see levels dip to as low as $85,000.

BTC exchange whale ratio. Source: CryptoQuant

Trader XO noted that Bitcoin trades below its key exponential moving averages, indicating a potential gravitation toward prices in the mid-$80,000 range unless a robust rally is initiated.

In conclusion, the current market dynamics and the rise of new BTC whales present a compelling scenario, suggesting that $85,000 is a crucial level to watch in the near term.

This article is not financial advice; readers should do their own research.