Bitcoin News Today: Bitcoin's Whale Sell-Offs Test ETF-Backed Resilience at $90k

Bitcoin Faces Surging Whale Inflows While Market Mirrors Earlier Turning Phases

Bitcoin exchange inflows surged to 9,000 BTC on November 21, 2025, the highest in recent months, as large holders accounted for 45% of the total deposits, signaling intensified selling pressure amid a seven-month price decline to $80,600. The average deposit size reached 1.23 BTC in November, the highest annual level, according to CryptoQuant, highlighting the scale of whale activity. Such movements often indicate preparation for liquidation, a pattern that has historically correlated with further price declines. Analysts warn that sustained inflows could exacerbate downward momentum, testing critical support levels like $70,000–$80,000.

The surge in whale activity is compounded by broader market dynamics. Binance's stablecoin reserves hit a record $51 billion, reflecting capital rotation into dollar-pegged assets as traders park funds amid uncertainty. Similarly, Bitcoin and Ether inflows to exchanges climbed to $40 billion in a week, led by Binance and Coinbase. This trend aligns with historical precedents where whale-driven selling in Bitcoin amplifies altcoin declines, pushing many tokens back to bear market levels.

While institutional buying via ETFs offers a counterbalance, the impact remains limited. BlackRock's iShares Bitcoin Trust ETF (IBIT) holders returned to a cumulative profit of $3.2 billion as Bitcoin reclaimed $90,000, according to Arkham. However, ETF inflows have been modest, totaling $21 million on November 27, a far cry from the $903 million outflows recorded earlier in the month. Ethereum and XRP ETFs also saw inflows, but their cumulative impact remains smaller than Bitcoin's whale-driven pressures.

Experts remain divided on the trajectory. CryptoQuant analysts caution that elevated whale deposits could drive prices lower, with James Check noting lingering leverage in markets that may force corrections into the $70k–$80k range. BitMine's Tom Lee has tempered his bullish forecasts, calling a return to all-time highs by year-end a "maybe." Conversely, 10x Research highlights Bitcoin's "tactical, oversold" rebound, with key resistance at $92,000 and $101,000 to monitor. The asset has stabilized above $90,000, offering glimmers of short-term resilience.

The interplay between whale activity, ETF inflows, and macroeconomic factors underscores a volatile landscape. While whale-driven selling remains a near-term risk, stabilization could emerge if inflows moderate and buying interest returns. Investors are advised to monitor exchange flows, leverage levels, and central bank policies, as the market navigates a potential turning point.