Whale's $4.4M FTT Loss Exposes Deepening Bear Market Dilemma

A whale address recently made headlines in the cryptocurrency market after transferring 4,516,000 FTX (FTT) tokens to Binance, resulting in a substantial loss of $4,416,000. According to Onchain Lens monitoring, the whale deposited the tokens between August 22, 2024, and November 25, 2024. At the time of deposit, the FTT tokens were valued at $3.53 million, but the eventual loss of $4.416 million highlights the volatility and risks inherent in holding such assets during periods of price decline. The total cost of the transaction reached $7.95 million, underscoring the significant financial impact of the trade [1].

The timing of the transaction coincides with a broader bearish trend in the FTT market, as noted by recent price analysis. On September 8, 2025, the FTT price was observed to be hovering near critical support at $0.79, with technical indicators pointing toward continued downward pressure. The token’s Relative Strength Index (RSI) was recorded at 39.87, signaling neutral territory with bearish undertones. Additionally, the Moving Average Convergence Divergence (MACD) indicator showed a negative histogram of -0.0039, suggesting that bearish momentum was building. These metrics indicate that the market for FTT remains under pressure, with limited signs of a near-term reversal [2].

The whale’s decision to deposit such a large volume of FTT on Binance could have influenced the market, although the extent of this influence is difficult to quantify without additional data. The move may reflect an attempt to manage the asset’s exposure or hedge against further losses. However, the significant loss incurred indicates that the whale did not achieve a favorable outcome. This event adds to a growing pattern of large token holders moving substantial portions of their holdings, often reflecting shifting market strategies or risk management adjustments [1].

From a technical analysis perspective, the FTT token continues to trade well below its key moving averages, indicating sustained selling pressure. The Stochastic oscillator, another critical tool for analyzing market trends, also showed bearish bias, with the %K at 24.94 and %D at 17.90, both indicating oversold conditions. While oversold readings can sometimes signal a bounce, the broader context of weak volume and limited momentum suggests that any relief rally would be short-lived. Furthermore, FTT’s current price is trading near the lower Bollinger Band at $0.73, reinforcing the perception of a weak market environment [2].

The immediate support level for FTT is currently at $0.76, which, if breached, could lead to further declines. Resistance levels remain distant, with the next significant hurdle at $0.98, a 24% move from the current price. Traders and analysts closely monitor these levels, as they could determine the token’s near-term trajectory. Given the current technical setup, FTT appears more likely to test lower levels than mount a sustained recovery without the benefit of positive catalysts or a surge in trading volume [2].

The broader implications of the whale’s transaction include potential market sentiment shifts and increased scrutiny from traders and analysts. Large movements of FTT, particularly by significant holders, can influence price action and investor behavior. While the whale’s deposit did not immediately trigger a market reaction, it underscores the ongoing volatility and uncertainty in the FTT market. As the token continues to trade near critical support levels, the risk of further declines remains a key concern for investors [1].

Source: [1] A whale deposited 4.516 million FTT on Binance and faced ... (https://www.panewslab.com/en/articles/3e7e9baf-7bb6-4b4b-a3ba-d1836020e29a) [2] FTX Token (FTT) Hovers Near Critical Support at $0.79 as ... (https://blockchain.news/news/20250908-ftx-token-ftt-hovers-near-critical-support-at-079-as)