Bitcoin’s Billion-Dollar Exit: HODLers Panic, Whales Flee 🐳💸

Key Takeaways

Why is Bitcoin’s price sliding again?

Long-term holders, those modern-day alchemists who once swore by “HODL,” have sold over 400K BTC in October, draining liquidity like a particularly inept wine steward at a dinner party. Bearish sentiment? It’s now as strong as a British summer breeze.

What could shift the BTC trend?

Analysts predict BTC might stabilize between $107K-$113K if demand rebounds faster than a toddler’s mood swing and liquidation pressure eases. Optimism, one imagines, is in short supply.

Bitcoin’s [BTC] October optimism fades as capital flight grips the market like a particularly clingy ex. The bullish momentum, which had been as fleeting as a midday nap, weakened sharply as capital outflows dominated. Bitcoin slid to $103,700 at press time, its lowest level since October 17th-though one suspects the calendar might have been misread.

Oversupply drives market weakness

Bitcoin’s initial drop on October 10th triggered a wave of distribution, as if the market were a particularly uninviting buffet. Long-term holders-wallets inactive for at least six months-sold roughly 400,000 BTC ($41.6B), proving that patience is a virtue… until it isn’t.

This shift confirmed that the same group which accumulated BTC during the summer was now driving the correction. A classic case of “buy the dip, sell the peak,” or as one might call it, basic arithmetic.

Whales, those aquatic titans of the crypto sea, compounded the pressure. One large holder sold 13,004 BTC ($1.36B), including 1,200 BTC offloaded on the first weekend of November. Presumably, they were funding a particularly lavish yacht named “Not Today, Satoshi.”

This large-scale profit-taking pushed Bitcoin closer to the $100K zone, turning sentiment decisively bearish. One wonders if the bears are hosting a tea party with scones made of despair.

Weak demand adds to the pressure

Bitcoin’s demand has weakened significantly, unable to match the pace of distribution. It’s as if the market is playing a game of musical chairs where everyone forgot to sit.

The Apparent Demand Growth over the past 30 days turned negative, indicating insufficient liquidity to absorb the ongoing sell-offs. In other words, the market is now a leaky boat with no paddle.

The one-year Apparent Demand band also contracted, showing that net inflows from new participants slowed. This drop in demand left Bitcoin vulnerable to further downside, even as macro conditions stayed “mildly supportive”-a euphemism akin to calling a hurricane “a bit breezy.”

Shawn Young, Chief Analyst at MEXC Research, told AMBCrypto that some recovery may be on the horizon. He’s either a visionary or a man with a very expensive crystal ball.

“Accumulation by major participants, the US-China trade agreement, and moderately positive stock markets are paving the way for a possible recovery in November,” he said. One might also mention the moon landing, just to be thorough.

Short-term drop still possible

While demand is building (slowly, like a Wi-Fi connection in 1999), Bitcoin could still experience another dip before stabilizing. The Liquidation Heatmap shows clusters near $102K, potentially dragging the asset down further. Imagine a toddler’s tantrum, but with billions at stake.

These lower clusters could act as demand zones, setting the stage for a rebound toward $110K-$112K. If only the market could be so generous with its mercy.

Farzam Ehsani, CEO of VALR, believes the market remains fragile. A bold claim, given it’s currently more fragile than a soufflé in a tornado.

“A 10% move in either direction could trigger massive liquidations-$11.39B in shorts if up, $7.55B in longs if down,” he said. One suspects the market is now playing Russian roulette with a calculator.

His outlook aligns with AMBCrypto’s analysis: consolidate within $107K-$113K. Or, as the Romans might have said, “Stay calm and carry on… if you have a 10-figure bank account.”

2025-11-05 01:50