Bitcoin News Today: Whale Activity Drives Altcoin Gains: Solana, Ethereum Jump 62% as XRP Selling Dips 94%

Whale activity has recently driven upward momentum in several key altcoins, sparking renewed investor interest in assets such as Solana, Chainlink, Sui, and Dogecoin. Prominent cryptocurrency analyst Ali Martinez highlighted technical indicators and whale accumulation patterns as critical factors in these price movements. Solana, for instance, has broken through a classical cup and handle pattern, pushing its price to approximately $180, with Martinez projecting a long-term target of $1,315. Similarly, Sui demonstrated bullish momentum by breaching a key resistance level on its three-day chart, setting sights on a $7 price level [1].

Chainlink’s trajectory appears bolstered by large-scale token accumulation. Data from Santiment reveals that investors holding 10,000 to 100,000 LINK tokens increased their holdings by 1.60 million over two weeks. This surge in demand, according to Martinez, provides a foundational signal for potential price appreciation [1]. Dogecoin also showed resilience after retracing to a $0.26 support level, forming a double bottom pattern that analysts suggest could propel its price toward $0.45 [1].

The broader altcoin market has seen similar whale-driven activity. Ethereum’s price surged 62% in the past month, partly attributed to a whale accumulating $400 million in ETH. Analysts noted that $2.6 billion in ETH was purchased by whales in the last week alone, with some forecasts predicting a rise toward $5,000 [1]. XRP, meanwhile, has experienced a 94% decline in whale selling, aligning with its price approaching $3.60 [4].

However, whale behavior remains complex and not always predictive. While Ethereum’s accumulation suggests institutional interest, the absence of a clear on-chain index for altcoin whale activity limits precise forecasting [1]. Bitcoin’s recent whale movements, including a $1.26 billion transfer of dormant BTC and a $920 million withdrawal from Kraken, have pushed its price above $120,000 but also introduced volatility amid speculation about exhaustion [8][9].

Investors are advised to monitor on-chain metrics, such as dormant supply levels and wallet activity, to gauge market sentiment. Yet, these tools remain incomplete without insights into off-chain capital flows. The interplay between whale activity and macroeconomic conditions will likely shape altcoin performance, with technical strength and institutional adoption serving as key determinants [1].

Source:

[1] [Whale Activity Lifts Key Altcoins](https://coinmarketcap.com/community/articles/6881ecab2bc37507b2e68eaf/)

[4] [XRP Gains Momentum on 94% Whale Selling Drop](https://www.ainvest.com/news/xrp-news-today-xrp-gains-momentum-94-whale-selling-drop-technical-analysis-points-3-60-breakout-2507/)

[8] [BTC Price Reclaims $120K As Whale Accumulates $920M](https://coingape.com/btc-price-reclaims-120k-as-whale-accumulates-920m/)

[9] [Bitcoin Whale Moves $1.26B in Dormant](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-whale-moves-1-26b-dormant-10-606-btc-3-5-years-274-gain-sparks-market-speculation-2507/)