Bitcoin News Today: Whale Exodus and Macro Uncertainty Drive Bitcoin Below $100K

Bitcoin's price tumbled below $100,000 on November 3, 2025, as a wave of selling pressure from long-term "OG" whales triggered market jitters. Blockchain analytics firm Lookonchain reported that two prominent figures—BitcoinOG, a veteran short-seller known for exploiting market crashes, and Owen Gunden, a Satoshi-era accumulator—had moved massive BTC holdings to exchanges, signaling potential bearish bets, according to Yahoo Finance. BitcoinOG, who earned $197 million during the October 10 crash by shorting BTC, has since deposited over $1.48 billion worth of BTC into Kraken, Binance, and Hyperliquid, with recent batches including 500 BTC ($55 million) to Kraken, that report noted. Gunden, holding 15,000 BTC accumulated over years, transferred $364.5 million in BTC to Kraken in large tranches, raising questions about profit-taking or portfolio rebalancing.

The selling spree coincided with broader market turbulence. CoinGlass data showed $260 million in long positions liquidated in four hours, while the Spent Output Profit Ratio (SOPR) spiked among short-term holders, a metric historically linked to price consolidation phases, according to CoinDesk. Meanwhile, "Bitcoin OG" increased exposure to BTC and ETH by depositing $20 million in USDC, though these positions now show combined unrealized losses exceeding $3.5 million, per BeInCrypto. Contrarian moves by whales, such as the "Anti-CZ Whale" shifting from shorting ETH to opening $109 million long positions, further highlight the volatility of crypto derivatives markets, a trend noted by the same outlet.

The sell-off intensified as macroeconomic risks emerged. U.S. President Donald Trump's executive order to suspend crypto enforcement and establish a Strategic Bitcoin Reserve—backed by seized assets—added uncertainty, as reported by Bitget. Strategy (formerly MicroStrategy), a corporate Bitcoin buyer, purchased 397 BTC for $45.6 million, pushing its holdings to $69.1 billion. However, BTC's price dipped below $109,000 post-purchase, reflecting waning investor appetite. The Coinbase premium turned negative, indicating American buyers no longer paid a premium for BTC, a development CoinDesk later discussed.

Institutional activity further shaped the narrative. Bit Digital Inc. reported staking 86.3% of its 153,546 ETH holdings, generating a 2.93% annualized yield, according to Morningstar. Meanwhile, Ethereum-based whales realized $40 million in daily profits from WBTC, USDT, and USDC, suggesting broader capital rotation, a pattern CoinDesk also highlighted.

The market's fragility was underscored by China's growing influence. Despite domestic crypto bans, Chinese citizens hold 194,000 BTC ($20.7 billion), per Bitget coverage. Trump's warnings about China's blockchain and AI advancements added to fears of U.S. economic leadership erosion, another point raised in that coverage.

As Bitcoin faces a critical juncture, analysts note that historical profit-taking waves often precede 2–4 months of consolidation, a timeframe CoinDesk has frequently observed. With whale activity and geopolitical tensions intertwining, the path forward remains fraught with uncertainty.