Bitcoin News Today: Bitcoin faces 4.21% decline after $9.7B Satoshi-era whale liquidation triggers volatility

Bitcoin faces heightened volatility following a $9.7 billion liquidation by a Satoshi-era whale, whose holdings dated back to 2011. The whale transferred over 80,000 BTC in batches, triggering a 4.21% weekly decline to $115,444. Galaxy Digital facilitated the distribution across major exchanges, including Binance, Coinbase, and OKX, with 17,123 BTC worth $1.98 billion allocated [1]. Analysts suggest the sales may involve a hacker who gained control of the wallet, though the exact nature of the transaction remains unconfirmed [1].

Technical analysis highlights a falling wedge pattern on Bitcoin’s 4-hour chart, with price testing the upper boundary at $118,347. A breakout above this level could target $125,000, a level last seen as a peak. The pattern, a reliable bullish reversal indicator, shows declining highs and lows converging, with volume activity suggesting the formation is nearing resolution. Institutional buyers, including BlackRock and MicroStrategy, are absorbing the distribution, with BlackRock adding 1,204 BTC and MicroStrategy purchasing 4,225 BTC [1].

Whale accumulation divergence underscores institutional confidence. While older whale holdings are being liquidated, large investors are aggressively buying Bitcoin, with whale accumulation reaching levels not seen since prior major accumulation phases. CryptoQuant CEO Ki Young Ju notes that “old whales sell to new long-term whales,” signaling a shift in market dynamics toward institutional adoption [1]. Bitcoin dominance has also declined from 65.95% to 61.25%, indicating healthy capital rotation as the broader crypto market expands [1].

Market sentiment remains mixed, with short-term fear and uncertainty contrasting long-term absorption. Merlijn The Trader, a prominent analyst, describes the emotional cycle as “bull trap → fear flush → silence,” framing it as a precursor to significant moves [1]. The convergence of technical patterns and institutional activity suggests Bitcoin is nearing a critical juncture. A successful wedge breakout could drive momentum-based buying toward new all-time highs, while sustained absorption by large players may mitigate downward pressure.

The $HYPER token presale, a Layer-2 solution on Solana, has raised over $5 million as Bitcoin transitions to mainstream adoption. The token offers staking rewards and access to DeFi, NFT, and gaming ecosystems, aligning with Bitcoin’s evolution beyond a store of value [1]. However, the presale’s relevance is contextual, with limited allocation remaining ahead of its Q3/Q4 2025 mainnet launch.

Sources:

[1] https://cryptonews.com/news/bitcoin-price-prediction-satoshi-era-whale-exit-fuels-volatility-whats-next/