Whale Moves Push Bitcoin to the Edge

Massive on-chain transfers from major wallets (“whales”) have coincided with increased selling pressure that pushed Bitcoin below short-term support levels.
Market and on-chain data indicate large outflows of coins to exchanges along with changes in ETF flows amplifying downside risks.
Traders are advised to monitor support levels around $96,000 – $100,000 with any stabilization above $104,000 – $105,000 considered the first sign of weakening selling pressure.

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On-Chain and Market Observations

On-chain monitoring and market platforms have shown a sharp rise in large transfers to centralized exchanges over the past week.
Reports from Bloomberg and others indicate that whale activity amounted to roughly $40–45 billion in sell-offs through late October and early November.

CoinDesk confirms that several key indicators have shifted into negative territory — rising inflows, net positions turning negative — suggesting that if this trend continues the price could drop toward $91,000 and possibly $72,000 if selling pressure intensifies.

From a price perspective, Bitcoin was trading around $100,000 – $103,000 on November 7 2025 after retreating from its early-October peak of $126,000.
ETF volatility has also contributed to amplifying market swings.

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Why Are Whale Movements So Impactful?

Large transfers from whale wallets to exchange addresses increase the available liquidity for selling on trading platforms, creating direct effects:

• Immediate Supply Shock: Inflows of large amounts into order books widen spreads and trigger massive sell orders.
• Psychological Impact: Once whale movements are detected, algorithmic trackers and stop-loss orders are automatically triggered prompting retail investors to follow suit.
• ETF Rebalancing Interaction: Whales transferring funds related to ETF portfolio adjustments can introduce additional waves of selling.

These effects are purely mechanical — but they explain why a single transfer worth hundreds of millions can move prices significantly in short periods.

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Technical Outlook: Key Levels

Based on recent technical analysis and on-chain data key market levels can be summarized as follows:

Level Type	Price Range (USD)	Interpretation
Immediate Resistance	104,000 – 105,000	Breaking and holding above signals fading sell pressure
Short-Term Support	Around 100,000	Breaking below increases downside risk
Major Support	Around 96,000	Breach could lead to declines toward 91,000 – 91,500

Technical Indicators:
On-chain metrics remain bearish and momentum indicators (RSI and MACD) show increasing weakness supporting the likelihood of continued declines as long as whale pressure persists.

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Possible Scenarios

1. Continuation of the Downtrend

If whales continue transferring to exchanges and ETFs keep reporting outflows, Bitcoin could fail to break above $104,000 and slide toward $96,000 and $91,000.
Recommendation: Tighten stop-loss orders reduce exposure and adopt hedging positions.

2. Reversal Scenario

If inflows ease and ETFs resume net inflows Bitcoin could reclaim $105,000 on stronger volume potentially paving the way for a return to previous highs.

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Trader & Risk Manager Watchlist

• Monitor “Exchange Inflow (USD)” on Glassnode or CryptoQuant as rising values usually precede selling pressure.
• Track actual ETF fund flows since persistent outflows signal bearish sentiment.
• Set stop-losses based on liquidity zones, not fixed percentages.
• For institutions: Use VWAP/TWAP orders to minimize market impact when executing large positions.

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