Crypto analysts report that Bitcoin’s recent decline was largely driven by futures market activity. According to CryptoQuant, large holders—whales with balances above 1,000 BTC—continue to sell off assets, locking in profits, while retail investors are seeing losses.
Mid-sized holders, those with 100–1,000 BTC, are gradually accumulating Bitcoin, and smaller addresses holding 10–100 BTC show steady growth. However, these gains are insufficient to offset institutional selling, leaving downward pressure on the price.
CryptoQuant highlights that futures positions acted as a catalyst for the drop. Long liquidations, cascading sell-offs, and futures market pressure turned a standard correction into a sharp decline.
Analysts note that the last 48 hours may signal a local bottom. A rebound to around $88,000 hints at potential trend reversal, but a full recovery would require renewed accumulation from whales holding 1,000–10,000 BTC.
Santiment analysts observed a decrease in small addresses and a rise in wallets with over 100 BTC, indicating retail capitulation—typical in the final stages of a downtrend.
Earlier, the Incrypted team examined the broader factors behind Bitcoin’s fall, including macroeconomic influences and institutional positioning.
