Headline: Киты распродают биткоин, в то время как мелкие инвесторы увеличивают покупки — тревожные сигналы для рынка Translation: Whales offload Bitcoin as small investors ramp up purchases — alarming signals for the market

As of October 12, whales sold 32,500 BTC, while retail investors were actively buying during the downturn. This divergence in behavior is seen as a warning sign for Bitcoin, experts from Santiment observed.

«Historically, prices tend to align with the direction of whales rather than retail investors,» they emphasized.

Charles Edwards, founder of Capriole Investments, pointed out the increase in cryptocurrency sales by long-term holders (those holding for over seven years) throughout 2025. This large-scale profit-taking is putting pressure on the asset’s prices.

Glassnode confirmed that this trend is a key feature of the current Bitcoin cycle.

Following a drop on Friday below $100,000, the price of digital gold temporarily rebounded to around $103,700. At the time of writing, prices were sustained above $102,000 according to CoinGecko.

Analysts at Bitfinex anticipate a period of consolidation and some volatility for cryptocurrencies in the short term. They stated in a comment to Cointelegraph that there will not be a «clear surge» to new highs.

«We believe that the influx of funds into ETFs in early October pushed the price to approximately $125,000, but then macroeconomic shocks in mid-month, the expiration of significant options, and profit-taking pushed it back down to the $100,000 mark,» analysts noted.

According to SoSoValue, on November 6, Bitcoin spot ETFs attracted $240 million after six days of continuous capital outflow. However, the following day, investors withdrew over $558 million from these products.

Bitfinex analysts estimate that a recovery of weekly inflows into BTC ETFs to $1 billion and an improvement in macroeconomic conditions would provide an opportunity for the cryptocurrency to reach $130,000.

Senior analyst at Nansen, Jake Kenna, believes that despite the traditional year-end rise of Bitcoin, «the recent liquidation and market structure collapse make it much less likely in the near future.»

However, he added that if dynamics «change decisively,» we might see new Bitcoin highs as early as 2025.

As a reminder, with the normalization of leverage and relative volatility compared to gold, the first cryptocurrency could rise to $170,000 within the next 6 to 12 months, as forecasted by JPMorgan.