Bitcoin News Today: Bitcoin Whales Shift Funds for Liquidity, Not Exodus, as Price Holds $105K

Bitcoin whales and miners are moving large amounts of cryptocurrency to exchanges, sparking concerns about selling pressure, but analysts caution against viewing the activity as a sudden exodus. The market remains structurally bullish despite short-term turbulence, with key metrics suggesting a balance between profit-taking and long-term accumulation.

Recent data from CryptoQuant reveals that Bitcoin whales-holders of over 1,000 BTC-sent more than 19,500 BTC to Binance between October 12 and November 3, valued at roughly $2 billion[according to reports]. This surge in whale inflows has intensified concerns about downward price pressure, particularly as miners followed suit, transferring over 71,000 BTC (worth $7 billion) to Binance since November's start[according to reports]. However, the analytics firm notes that whale activity has since slowed, indicating the most intense phase of selling may have already occurred[according to reports].

While these movements signal caution, other indicators suggest whales are still net buyers. Mid-sized investors, or "Dolphins" (holding 100–1,000 BTC), sharply reduced their accumulation to 81,453.5 BTC from 173,982.8 BTC, while "Great Whales" (holding over 10,000 BTC) more than doubled their holdings, adding over 36,000 BTC[according to data]. This steady accumulation by high-capital entities has helped anchor Bitcoin above the $100,000 level, preserving a long-term bullish foundation despite ETF-driven outflows[according to data].

Bitcoin's price has held above $105,000, supported by improved risk appetite and macroeconomic optimism. Derivatives traders are pricing in elevated year-end expectations, with call options around the $115,000 strike showing increased open interest. Stablecoin inflows to exchanges rose 9% week-on-week, a precursor to higher spot buying activity[according to reports]. The Crypto Fear & Greed Index climbed to 69, signaling moderate greed and a recovery from 47 a week earlier[according to data]. Analysts at TradingNews maintain a BUY outlook, citing technical resilience and improved macro signals[according to reports].

Miner activity, meanwhile, reflects a strategic shift toward liquidity management rather than aggressive profit-taking. Rising exchange deposits are partly attributed to covering operational costs for energy, maintenance, and hardware upgrades[according to reports]. This trend aligns with seasonal patterns of financial rebalancing ahead of year-end and suggests miners are prioritizing flexibility amid volatile market conditions[according to reports].

Despite the short-term selling, the broader market structure remains intact. Long-term holders (LTHs) continue to increase exchange inflows, but the LTH-SOPR metric has dropped to 1.6, indicating waning conviction among some investors[according to data]. However, the accumulation by whales and institutional confidence in Bitcoin's medium-term trajectory suggest the market is not in freefall[according to reports].