Bitcoin Whales Hit The Sell Button - $135K Price Target Now Trending

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Bitcoin whales have begun aggressively closing their leveraged long positions on major exchanges like Bitfinex and Bitstamp. The move has historically been a precursor to bullish breakouts, and analysts are now watching closely for signs of a potential price surge. Whale activity has declined after peaking at 73,000 BTC in late 2025, a signal that some traders believe could mark the start of a new rally.

On-chain data from CryptoQuant indicates that whale holdings have fallen by over 200,000 BTC in 2025, while smaller investors have increased their exposure. This shift in ownership suggests broader market participation and potentially more stable price support. However, it is not a guarantee of upward movement.

Bitcoin’s price remains in a consolidation phase, trading around $91,500. A breakout above the $94,000 resistance level would be a strong bullish signal. Analysts are watching closely for increased volume and sustained buying pressure to confirm the move.

Why Did This Happen?

Whale activity often reflects broader market sentiment. The recent reduction in leveraged long positions aligns with historical patterns seen in previous cycles. In early 2025, a similar decline in whale positions coincided with a sharp rebound in Bitcoin after it dipped below $74,000.

Market analysts suggest that this current whale behavior may indicate a cleanup phase after a recent correction. As speculative positions unwind and coins move to more stable hands, the market may become less vulnerable to sudden downward shocks. This could set the stage for a new accumulation phase.

How Did Markets Respond?

Bitcoin’s price movement has been relatively contained, fluctuating within a narrow range of $88,000 to $92,000. This consolidation suggests that traders are waiting for a catalyst to push the price in a specific direction. The recent reduction in whale positions has not yet translated into a sustained price increase.

Exchange data shows that U.S. spot Bitcoin ETFs recorded significant outflows during the first full week of 2026. BlackRock’s IBIT fund alone saw $252 million in outflows on January 9. This outflow activity may be a factor in the current price stagnation.

What Are Analysts Watching Next?

Analysts are closely monitoring the Bitcoin-to-stablecoin ratio on Binance and other exchanges. A rise in this ratio can indicate increasing buying power and may be a precursor to a price increase. Historical data shows that similar conditions in March 2025 led to a significant price rally.

The Chicago Fed’s National Financial Conditions Index (NFCI) is also a point of focus. As of January 2, 2026, the index stood at about -0.5536, indicating looser-than-average financial conditions. Loose conditions can support price gains by making it easier for buyers to enter the market.

Volume and open interest data on major derivatives platforms are also critical indicators. A breakout above $94,000 with rising spot demand would support the bullish case. Conversely, increased selling pressure at that level could keep Bitcoin in its current range.

Bitcoin’s RSI is showing signs of bullish momentum on multiple timeframes. A weekly RSI breakout in December has held, suggesting that further upside is possible. Some analysts predict Bitcoin could reach $105,000 in the next few weeks.

Market participants are also watching for confirmation from major macroeconomic indicators. The Federal Reserve’s policy direction and broader economic conditions will play a key role in shaping the next phase of Bitcoin’s price movement.