When Bitcoin was trading around $65,800, approximately 70.41% of the assets transferred to exchanges came from large holders. However, this category is not homogeneous. A deeper breakdown reveals a sharp divergence in behavior between seasoned long-term whales and newer large-scale buyers.

Newer Whales Lead the Bitcoin Sell-Off

According to the data, large investors who entered positions at relatively higher price levels transferred roughly 138,000 BTC to exchanges. This accounts for nearly all major inflows during the observed period. In contrast, long-term large holders sent only about 7,500 BTC to trading platforms.

This distinction is critical. The current wave of exchange inflows appears to be driven less by profit-taking and more by defensive selling from investors facing unrealized losses. Rather than distributing gains, newer whales seem to be reducing exposure amid heightened uncertainty.

Rising Exchange Balances Signal Growing Supply

Since January, total Bitcoin reserves on exchanges have increased by more than 32,000 BTC, reaching approximately 2.75 million BTC. An increase in exchange balances is typically interpreted as a rise in readily sellable supply, which can amplify downward price pressure.

Technically, Bitcoin’s loss of the $65,000 support level triggered additional volatility. Within 24 hours, the price fell by 4% to 5%, setting off hundreds of millions of dollars in liquidations across leveraged derivatives markets. The forced unwinding of positions further intensified short-term weakness.

Macro Headwinds and the $60,000 Threshold

The broader macro backdrop has also played a role. The decision to raise global tariffs to 15% dampened overall risk appetite, prompting capital rotation toward traditional safe-haven assets such as gold. Bitcoin, often viewed as a risk-sensitive asset in such environments, faced renewed pressure.

CryptoQuant identifies the $60,000 level as a key short-term support zone. Whether exchange inflows begin to slow will likely determine the next directional move. Continued heavy transfers could sustain downside momentum, while a reduction in sell-side flows may allow the market to stabilize and reassess its footing.

In the comment section, you can freely share your comments and  opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates.

The post Behind the Scenes of the Bitcoin Decline: What Triggered the Sell? appeared first on Coin Engineer.

Growth in Small Wallet Holdings on Bitcoin

According to data from Santiment, wallets holding less than 0.1 BTC — typically associated with retail participants — have increased their total holdings by 2.5% since Bitcoin’s October peak of $126,100. This cohort’s share of total supply has climbed to its highest level since mid-2024.

The trend suggests that individual investors are viewing recent pullbacks as buying opportunities. In particular, after Bitcoin dropped toward $60,000 on February 5, smaller and mid-sized wallets showed signs of renewed accumulation. Retail participants appear willing to step in during periods of weakness, helping establish a potential price floor.

Large Holders Reduce Exposure

In contrast, wallets holding between 10 and 10,000 BTC — often categorized as whales and sharks — have reduced their holdings by approximately 0.8% over the same period. Historically, sustained price trends tend to require alignment from this larger capital base.

During the sharp February sell-off, Glassnode’s Accumulation Trend Score rose to 0.68, marking the strongest broad-based accumulation signal since late November. This metric evaluates the relative strength of accumulation across wallet sizes over a 15-day period, with values closer to 1 indicating accumulation and values near 0 signaling distribution. At that time, the 10–100 BTC cohort stood out as aggressive dip buyers.

However, when examining Santiment’s broader 10–10,000 BTC range, net positioning since October remains negative. One possible interpretation is that mid-sized wallets accumulated during panic conditions, while the largest holders continued selling into subsequent recoveries, offsetting those gains.

What’s Needed for a Sustainable Rally?

Retail investors can help stabilize prices and generate short-term momentum. But durable uptrends typically require meaningful participation from large holders prepared to absorb supply.

At this stage, Bitcoin may not need an influx of new retail capital — that segment is already active. Instead, the key variable is whether large wallets stop distributing and begin accumulating again. Without that shift, each rally attempt risks being met with renewed selling pressure.

Smaller investors are doing their part. The market’s next decisive move likely depends on whether the whales decide to follow.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Retail Is Buying Bitcoin — But What Are the Whales Doing? appeared first on Coin Engineer.

Exchange Inflows Are Slowing

In early February, as Bitcoin slid toward the $60,000 level, deposits to centralized exchanges surged to approximately 60,000 BTC. Over the past seven days, however, the average has dropped to around 23,000 BTC.

This decline points to a moderation in the intense wave of selling seen earlier in the month. Lower exchange inflows typically translate into reduced immediate sell pressure, as fewer coins are positioned for liquidation. That said, inflows remain elevated compared to previous months, indicating that distribution has not fully subsided. The market may have exited the most aggressive phase of the sell-off, but conditions remain fragile.

Whale Activity Dominates the Flow

Although total inflows have decreased, the composition of those inflows has become more concentrated. The “Exchange Whale Ratio,” which measures the share of the top 10 deposits relative to total exchange inflows, has climbed to 0.64 — its highest level since 2015.

In practical terms, 64% of all Bitcoin sent to exchanges is coming from the largest transfer transactions. This suggests that major holders continue to offload positions. Throughout 2025, analysts have described the market as undergoing a “great redistribution,” with long-term holders transferring substantial amounts of BTC to new participants in multiple waves.

The data implies that while smaller flows are tapering off, whales remain active sellers, maintaining structural pressure on price.

Is Another Leg Down Ahead for Bitcoin?

On-chain indicators also hint that a near-term breakout may be unlikely. Some models place Bitcoin’s potential “ultimate bear market bottom” near $55,000. At the same time, declining USDT inflows to exchanges suggest that available sidelined capital — often referred to as “dry powder” — is diminishing.

Prediction market probabilities further reflect caution. Current pricing implies a 57% chance that Bitcoin falls to $55,000 before rebounding to $84,000.

Overall, while the sharpest phase of selling may have eased, persistent whale distribution suggests that caution remains warranted.

This content is for informational purposes only and does not constitute investment advice.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news and updates instantly.

The post Bitcoin Whales Are Moving to Exchanges! Where Is the Bottom? appeared first on Coin Engineer.

“Bitcoin and Ether Balances Are Increasing”

Armstrong indicated that internal platform data shows a rise in the number of Bitcoin and Ether units held by retail customers on Coinbase. While the dollar value of portfolios may have declined due to falling prices, the actual quantity of BTC and ETH in user accounts has increased.

He noted that balances recorded in February show coin counts that are either equal to or higher than those seen in December. This suggests that retail participants interpreted the market correction as a buying opportunity rather than a signal to exit positions. Armstrong described this behavior as a display of strong conviction during turbulent market conditions.

In practical terms, although overall portfolio valuations may appear lower in fiat terms, investors have been expanding their crypto holdings. The distinction between nominal dollar value and asset quantity is significant, particularly in volatile markets where price fluctuations can mask accumulation trends.

Falling Prices, Rising Coin Counts

This dynamic is not uncommon in crypto cycles. When prices decline, portfolio values measured in dollars naturally contract. However, if investors continue to purchase assets at lower prices, the number of coins they hold increases. Armstrong emphasized that Coinbase’s retail segment appears to be strengthening positions rather than liquidating them.

Such accumulation patterns are often viewed as a long-term signal of confidence, especially in flagship assets like Bitcoin and Ether.

CEO’s Personal Share Sales Draw Attention

At the same time, Armstrong’s personal financial activity has attracted scrutiny. While there is no indication that he sold Bitcoin or Ether, reports show that he sold approximately $550 million worth of Coinbase stock over the past nine months.

Coinbase shares, which surpassed $400 last year at their peak, recently closed at $164. Armstrong, who founded the company, is estimated to have a net worth of around $7.5 billion. The contrast between retail investors accumulating crypto and the CEO reducing exposure to company shares has become a point of discussion.

This content is not investment advice. Cryptocurrency markets involve significant risk, and individuals should conduct their own research before making financial decisions.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Coinbase CEO Signals Retail Resilience Amid Bitcoin Pullback appeared first on Coin Engineer.

Long-Term Supply Climbs to 14.3 Million Bitcoin

According to on-chain metrics, the amount of Bitcoin held by long-term investors had declined to around 13.8 million BTC in recent months. That figure has now rebounded to approximately 14.3 million BTC, signaling renewed accumulation.

Long-term holders are typically defined as market participants who retain their assets through volatility and extended market cycles. When this group begins increasing its exposure during periods of weakness, it often reflects strategic positioning rather than reactive trading. The recent uptick suggests that current price levels may be viewed as attractive from a long-term perspective.

Historical Pattern: Rally Within 3–4 Months

Previous bull cycles reveal a recurring pattern: long-term holders tend to accumulate during or shortly after local market corrections. Roughly three to four months following these accumulation phases, Bitcoin has historically entered a notable rally.

Analysts caution against interpreting the current correction as the end of the broader uptrend. Instead, they suggest the market may be experiencing a mid-cycle pullback within a larger bullish structure. From this standpoint, the recent decline could represent consolidation rather than a structural trend reversal.

Price Action: Bitcoin Slips Below $67,000

On the price front, volatility remains elevated. After dropping to $60,000 last week, Bitcoin managed to reclaim levels above $70,000 over the weekend. However, renewed selling pressure emerged, pushing the price back below $67,000.

Technical Bitcoin (BTC) Outlook: Key Levels to Watch

Intraday, Bitcoin retraced to an untested internal structure support and found a short-term reaction at $66,750. This level now serves as a critical reference point. As long as price remains above this support and holds within the defined consolidation range, the broader structure remains intact.

The $72,000 level stands out as a major resistance and liquidity target. A move toward this area is plausible provided no new lower low forms. A decisive break above $72,000 could open the path toward the $78,000–$80,000 range, which represents the next significant resistance zone.

Overall, the behavior of long-term holders combined with key technical levels suggests that the coming months may prove decisive for Bitcoin’s next major move.

*This content does not constitute investment advice.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

The post Long-Term Bitcoin Holders Are Accumulating: Is a Rally Ahead? appeared first on Coin Engineer.

Decline Among Whale and Shark Wallets

According to on-chain metrics, wallets holding between 10 and 10,000 BTC—commonly referred to as whale and shark wallets—now control approximately 68.04% of Bitcoin’s total circulating supply. This represents the lowest concentration observed since late May, when Bitcoin reclaimed the $100,000 level after several months below it.

Over the past eight days alone, these large holders have collectively reduced their positions by 81,068 BTC. During the same period, Bitcoin’s price dropped from around $90,000 to near $65,000, marking a decline of roughly 27%. At the time of writing, Bitcoin is trading at $64,792, having recently bounced from intraday lows slightly above $60,000.

Why Large Holder Behavior Matters

Market participants closely monitor the actions of large Bitcoin holders, as their accumulation or distribution patterns often provide insight into broader market sentiment. Sustained selling from this cohort is frequently interpreted as a sign that major players are de-risking or adjusting exposure amid rising uncertainty.

Caution is not limited to on-chain data alone. Commentary from industry analysts suggests that sentiment across the market has turned increasingly pessimistic, with many expecting further downside in the short term.

Fear Index Signals Extreme Pessimism

This cautious outlook is reflected in sentiment indicators. The Crypto Fear & Greed Index has fallen to a reading of 9 out of 100, its lowest level since mid-2022. That period coincided with severe market stress following the collapse of the Terra ecosystem, underscoring the intensity of current fear levels.

Retail Investors Continue Accumulating

While large holders have been reducing exposure, smaller investors appear to be moving in the opposite direction. Wallets holding less than 0.1 BTC—often referred to as “shrimp” wallets—have reached a 20-month high. This cohort now accounts for approximately 0.249% of Bitcoin’s total supply, equivalent to around 52,290 BTC.

Historically, periods where large holders distribute while retail investors aggressively accumulate have often aligned with the formation of bear market cycles. As a result, the current divergence between institutional-scale wallets and retail behavior adds an additional layer of complexity to Bitcoin’s near-term outlook, suggesting that both price action and investor psychology warrant close observation.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post What’s Happening to Large Bitcoin Wallets? appeared first on Coin Engineer.

Exchange Balances Drop to Six-Month Lows

On-chain data shows a steady decline in Ethereum reserves on crypto exchanges over the past six months. After peaking at 12.31 million ETH in July, exchange-held supply has fallen to approximately 8.15 million ETH. Crucially, this drawdown occurred during a period when ETH prices remained largely range-bound, indicating that coins are being withdrawn rather than sold.

Over the past seven days, Ethereum has traded within a relatively tight band between $2,801 and $3,034. In this sideways market environment, staking has emerged as an increasingly attractive option for holders seeking yield while waiting for a clearer market catalyst.

Staking Demand Pushes Validator Queue to Capacity

The growing appetite for staking is now visibly straining Ethereum’s validator onboarding process. Roughly 3.6 million ETH is currently queued for staking, with an estimated wait time of around 63 days for new validators to enter the network.

In contrast, the exit side of the queue remains comparatively light. Only about 44,448 ETH is waiting to be unstaked, with an estimated processing time of just 18 hours. This imbalance reflects Ethereum’s built-in limits on validator entries and exits per epoch, which are designed to preserve network stability.

Nearly One-Third of ETH Supply Is Now Staked

Total staked Ether has climbed above 36 million ETH, accounting for roughly 29% of the circulating supply. Just a few months ago, this figure stood closer to 35 million ETH. In a proof-of-stake system, increasing staking participation is often interpreted as a long-term confidence signal, as it requires assets to be locked rather than kept liquid for potential sale.

Institutional and Whale Activity Reinforces the Trend

Large holders appear to be reinforcing this dynamic. Treasury-focused firm BitMine recently staked an additional 250,912 ETH, bringing its total staked balance above 2.5 million ETH—around 61% of its overall holdings. Meanwhile, several major staking wallets have collectively withdrawn more than 26,000 ETH from Binance, pointing toward further accumulation.

Shrinking Liquidity Meets Falling Volume

While daily ETH trading volume has slipped from over $27 billion to roughly $23.54 billion, the ongoing reduction in exchange supply suggests a tightening liquidity environment.

Taken together, Ethereum’s price may look stagnant on the surface, but underlying on-chain indicators point to strengthening long-term conviction. If demand rebounds, this tightening supply dynamic could become a critical factor in Ethereum’s next major move.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Critical On-Chain Signal for Ethereum Price: What Comes Next? appeared first on Coin Engineer.

Ethereum Price Under Sustained Pressure

Ethereum has struggled to maintain momentum in recent weeks. Over the past seven days, ETH has fallen by more than 10%, wiping out all gains recorded earlier in the year. At the time of writing, Ethereum is trading near $2,913, marking a year-to-date decline of roughly 5%.

This price weakness has unfolded amid broader market uncertainty, creating conditions where whale decisions carry increased influence over short-term price dynamics.

Accumulation Signals From Large Holders

On-chain data indicates that several large investors are treating the recent pullback as a buying opportunity. One notable OTC-linked wallet, identified as 0xFB7, acquired 20,000 ETH in a single move, representing an investment of approximately $56 million. Over the past five days, the same address has accumulated a total of 70,013 ETH, worth more than $200 million.

This accumulation trend extends beyond a single wallet. Recently, whales collectively added over 350,000 ETH in just one day. At the same time, Ethereum balances held on centralized exchanges continue to decline, suggesting that a portion of this supply is being moved into long-term storage rather than positioned for immediate sale.

Rotation and Distribution Add Complexity

While accumulation remains evident, not all whale activity supports a bullish narrative. Some large investors are actively reshaping their portfolios. The DeFi project World Liberty Financial shifted part of its exposure from Bitcoin to Ethereum, swapping 93.77 WBTC for 2,868 ETH. Another whale followed a similar rotation, selling 120 BTC to acquire 3,623 ETH.

Conversely, an early Ethereum holder reactivated after nearly nine years of inactivity, transferring 50,000 ETH to the Gemini exchange. Although the wallet still retains 85,000 ETH, such a large exchange deposit often raises concerns about potential profit-taking or portfolio rebalancing.

Network Fundamentals Remain Strong

Despite mixed whale behavior and price consolidation, Ethereum’s network metrics paint a more constructive picture. The seven-day average of active Ethereum addresses has reached a record high of 718,000. This divergence between stagnant price action and rising network participation has historically preceded upward price movements.

Growth in Layer-2 usage, ongoing DeFi activity, and expanding user engagement continue to reinforce Ethereum’s long-term fundamentals. While whale activity remains divided, the underlying network data suggests that Ethereum’s broader value proposition remains intact.

This content is not investment advice. Cryptocurrencies involve significant risk, and investment decisions should be based on individual research.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Are Ethereum Whales Buying or Selling? appeared first on Coin Engineer.

Why “Whale Accumulation” Can Be Misleading

One of the biggest pitfalls in onchain analysis is the misinterpretation of exchange-related activity as investor behavior. Centralized exchanges regularly reorganize their wallets for operational efficiency, liquidity management, and compliance reasons. This often involves consolidating funds from numerous smaller addresses into fewer large wallets.

From a data perspective, these consolidations artificially inflate the number of high-balance addresses. Onchain trackers may then flag this as whale accumulation, even though no actual buying decision has been made by a large investor. In other words, the data can reflect internal exchange movements rather than genuine market demand.

When these exchange-driven distortions are filtered out, the picture changes significantly. Large Bitcoin holders, particularly those with very high balances, continue to reduce their holdings overall. This suggests that distribution, not accumulation, remains the dominant trend among classic “whales.”

Mid-Sized Large Holders Also Show Weakness

The trend is not limited to the largest addresses. Wallets holding between 100 and 1,000 BTC are also experiencing a gradual decline in total balances. This behavior aligns with continued outflows from spot Bitcoin exchange-traded funds, which have reshaped how institutional exposure to Bitcoin is managed.

Since the launch of US spot Bitcoin ETFs in early 2024, market influence has increasingly shifted away from traditional whale wallets toward ETF structures. As a result, the historical impact of large individual holders on price action has become less pronounced than in previous cycles.

A Constructive Shift Among Long-Term Holders

Despite the lack of clear whale accumulation, onchain data reveals a more encouraging development elsewhere. Long-term Bitcoin holders—often considered the backbone of the network—have turned into net accumulators over the past month.

This shift comes after one of their most significant selling periods since 2019. The return to accumulation suggests that a major source of selling pressure may be easing, at least temporarily, which could help stabilize market conditions.

What Price Action Is Telling Us

Bitcoin has yet to stage a decisive recovery, but it has also avoided revisiting the sub-$80,000 levels seen in November. Holding above the $90,000 area indicates a market searching for equilibrium rather than entering a new phase of panic.

Overall, the data suggests that the popular whale accumulation narrative is overstated. While large holders are not leading a broad buying wave, the renewed confidence among long-term investors may prove to be the more important signal to watch in the coming period.

Also In the comment section, you can freely share your comments and  opinions about the topic. Additionally, don’ t forget to follow us on Telegram, YouTube, and Twitter for the latest news and updates instantly.

The post Are Bitcoin Whales Really Accumulating? appeared first on Coin Engineer.

Long-Term Bitcoin Holders Pause Distribution

Wallets holding Bitcoin for at least 155 days have shown a clear slowdown in selling activity. These long-term holders reduced their combined balance from roughly 14.8 million BTC in mid-July to about 14.3 million BTC by December. Recent data, however, indicates that this distribution phase has stalled.

Historically, long-term holders tend to sell during periods of strength and pause when prices approach perceived value zones. Their decision to stop trimming positions is often interpreted as a sign that downside momentum may be weakening. In previous market cycles, similar pauses have preceded short-term relief rallies or consolidation phases.

Ethereum Whales Increase Exposure

As Bitcoin selling pressure cools, Ethereum is seeing renewed interest from large holders. Over the past week alone, addresses holding more than 1,000 ETH collectively added approximately 120,000 ETH to their balances.

These large wallets now control close to 70% of Ethereum’s circulating supply, a share that has been steadily rising since late 2024. The growing concentration suggests that institutional players and high-net-worth investors are positioning for longer-term developments rather than short-term price action. This behavior is often associated with strategic accumulation rather than speculative trading.

Capital Rotation From Metals to Crypto

Market participants have also observed early signs of capital rotating away from precious metals and back into digital assets. Following strong moves in silver, palladium, and platinum, momentum in those markets appears to be fading. As a result, investors may be reallocating capital toward Bitcoin and Ethereum, assets that tend to benefit when risk appetite gradually returns.

Such rotations are common during transitional market phases, particularly when investors seek alternative growth opportunities after commodity rallies lose steam.

Market Sentiment Remains Fragile

Despite these constructive signals, price action remains choppy. Bitcoin has traded within a relatively narrow range between $86,744 and $90,064 over the past seven days. Notably, price spikes during the holiday period coincided with rising fear and uncertainty, reinforcing the tendency for markets to move against prevailing sentiment.

As prices pulled back, traders became more cautious, highlighting the fragile confidence still present across the market.

US-Based Selling Pressure Persists

One ongoing headwind is continued selling pressure from US-based traders.

The Coinbase Bitcoin Premium Index remains in negative territory, signaling weaker demand and elevated risk aversion in the US market. Until this metric stabilizes, short-term volatility is likely to remain a defining feature of price action.

For the latest news, be sure to follow Coin Engineer News by clicking here

The post Bitcoin Selling Pressure Eases as Ethereum Accumulation Accelerates appeared first on Coin Engineer.