Whale Bitcoin just shook the market

Bitcoin has returned to the $105,900 level after Israel and Iran's order to hold fire on Tuesday. However, the panic and FUD (fear, uncertainty and doubt) psychology from new Bitcoin whales are increasingly driving strong volatility for the largest cryptocurrency in the market.

CryptoQuant stated that the actual large losses from new whales are the main factor causing this situation. They have panic sold Bitcoin, thereby amplifying the downward trend in the market.

How recent whale actions have impacted the price volatility of Bitcoin

Since June, the price of Bitcoin has been fluctuating significantly. The king of cryptocurrency started June around $107,000, then surpassed $110,000, and then plunged below $100,000.

From June 14 to June 22, whales have recorded a total loss of about $228 million from Bitcoin, according to the analysis by JA Maartunn from CryptoQuant. Particularly noteworthy is June 17, when the market saw a sharp decline with a $95 million loss in just one day.

Most of these losses - nearly $85 million - come from new whales, while seasoned whale investors only lose about $8.2 million. Another significant loss occurred on June 22, with a total damage of up to $51 million, evenly distributed among both new and old whale holders.

Actual profits of Bitcoin whales | Source: CryptoQuantNew whales - those who have just entered the market at high prices - seem prone to panic and sell off more easily as political tension escalates. Their quick exits lead to sharp price fluctuations and reinforce resistance levels at key milestones, especially around the $111,000 mark.

The whale ratio on the exchange indicates increasing selling pressure

Further support for this trend comes from data from CryptoQuant, showing that the whale ratio on the exchange has remained high throughout much of June.

This index measures the level of activity of whales on the exchange. A high ratio means that whales are actively depositing Bitcoin on the exchange - a typical sign of preparing to sell.

This index increases every time Bitcoin tries to exceed the $110,000 threshold. Whales seem to have placed sell orders around this level, hindering the upward momentum.

This ratio decreases slightly when the price of Bitcoin falls below $102,000, but increases again when the price recovers to around $105,900.

The Bitcoin whale ratio on the exchange | Source: CryptoQuantThis activity shows that whales continuously manage risk, thereby creating selling pressure and increasing market instability.

Political instability increases whale concerns

Recent geopolitical events - including the Israel and Iran holda battle along with the subsequent ceasefire announcement - have added to market uncertainty. New whale investors seem particularly sensitive, reacting quickly to negative news.

Such hasty sell-offs of gold only exacerbate volatility. Traders using leverage face the risk of receiving a margin call, leading to further price declines and hindering sustainable growth.

According to analysts, for Bitcoin to solidly break out above the key resistance level of $111,000, selling pressure from whales needs to decrease. Lower actual losses and a decrease in the amount of Bitcoin flowing into exchanges will be a signal that market confidence is improving.

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