Whale Inferno: Can Bitcoin Drag Itself to $74K?

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After the obstinate rejection at $72k, Bitcoin’s bearish specter sharpened its scythe; BTC tumbled to a melancholy low of $65,080, then, with the grace of a corner office clerk, nudged back to $66,725, as if the universe pressed the pause button on a chaotic montage.

At press time, BTC was trading at $60,000, down 1.64% on the daily pages. The market marches downward with the solemn pomp of a bureaucratic parade, and investors-especially the whales-appear to have misplaced their appetite for heroism, capitulating with the flair of a theater critic surrendering his last seat.

Bitcoin whale dumps $559M in BTC

When BTC slipped below $90k, whales strutted in with the confidence of benefactors at a charity gala, convinced the price could not sink further. Yet as the dip deepened, panic bloomed; the great sea of wallets began to close their harbor entries.

Based on Whale Trend Analysis Indicator from TradingView, whale sell-side activity has remained steady for two consecutive weeks.

After the price dropped below $70k again, whale purchases evaporated, while sellers strode about the market like bored ushers keeping order in an empty theater.

In fact, Lookonchain observed an active whale on the side. Over the past 2 days, the whale has deposited 8,200 BTC, valued at $559 million, into Binance.

Strangely, every time this whale reduced its holdings, BTC followed suit with a price drop. Following the latest sale, BTC declined by more than 3%, reaching a low of $65,080, as if the markets were performing a somber dance dictated by a capricious demon of liquidity.

Usually, when whales are constantly short during a downtrend, it signals strong bearish conviction and a fear of further losses.

BTC remains stuck within a macro risk-off period

Bitcoin has faced significant downside pressure, particularly from whales, who are offloading to minimize risk. The result is a momentum that moves like a sleepy tram through a foggy night, leaving BTC on the losing end of the streetcar line.

In fact, Bitcoin’s Ease of Movement (EOM) has remained negative for 30 consecutive days. This implies that the price has continued to decline readily despite low volume, as if the signal were whispering, “nobody is listening.”

As such, sellers have consistently pushed prices down with little resistance. This implies that buyers have retreated, with sellers assuming full control of the market.

Therefore, even slight selling pressure currently exerts significant downside pressure due to thin demand-side liquidity. At press time, the Money Flow Index (MFI) was at 32. It further indicates weakened buying pressure and dominant selling pressure.

Continuing the current setup could result in BTC experiencing further losses, breaching $65k, with an elevated risk of dropping toward the $60k support level.

On the other hand, a trend reversal requires buyers, especially whales, to be incentivized to return to the market. Looking at the Exchange Netflow, every time buyers stepped in, pushing netflow down, BTC has made slight gains.

For instance, it recovered from a $65k decline after netflow dropped to -1.4k BTC, indicating positive price demand.

Under such circumstances, BTC could effectively hold the pressure, avoid further declines, and reclaim the $74k resistance level.

Final Thoughts

  • A Bitcoin whale continued a dumping spree, offloading 8,200 BTC, valued at $559 million.
  • BTC continued to trade between $65k and $67k amid thin buy-side liquidity. 

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2026-02-13 14:35