Whales Siege Bitcoin-Will the Market Collapse or Carry the Tide?

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In the current economic twilight, Bitcoin has slid once more back to the price shadows that last flickered in October 2024. It is at these very grams that the colossal leviathans-whales-apparently humbly reclaim their positions, as if the market were a great book where the mighty authors keep the pen.

On‑chain whispering tells us that these leviathans do not yet dare to cast their nets elsewhere; the tide is not yet deep enough to compel them to abandon ship. In fact, the downturn seems less like a storm than an invitation to return, a silver lining that these sluggish minnows often miss.

Whales Gather While Ordinary Whines Grow

Allegedly led by the enigmatic CW8900, a shadowy so‑called market watcher, the evidence paints a picture of steady, careful accumulation by the great captains of Bitcoin and Ethereum. The voice croaks that the current price, as if following a forgotten melody, echoes the very point in October where the whales first set the course. More treasure, not less.

“Despite Bitcoin’s descent, the whales keep tacking on. In actuality, the buoyancy simply heightens,” the cryptic observer declares.

In a distant note, the analyst signals that Ethereum’s leviathans now hold positions that echo the humble losses of earlier cycles-an ominous pattern, yet one that crafts a tale of bottoming waters in the grand theater of value.

When addressing the Juggernaut of Ether, the voice states:

“Their quarry lies in the forthcoming rally. They accumulate, as if stocking for a future bellow, preparing meticulously for a herd of bulls,”

CoinGecko’s ledger provides numbers that fit like a well‑tooled cap: BTC has traded near $69 000 after skimming between $68 000 and $71 000 this past day. The coin has dipped about 2 % over the week, 10 % over two weeks, and a staggering 28 % over the month.

Ether, meanwhile, suffers deeper losses. Presently trading just shy of $2 000, it has fallen half again in a month and one‑third in the past fortnight.

Nevertheless, some analysts, like Tom Lee of Fundstrat, nod that Ether will recover whole. He points to eight separate >50 % drawdowns since 2018-none of which avoided a V‑shaped bottom and full return. It’s, after all, a lover of deep dives.

Yet not all buoyant positions have survived intact. Trend Research, once Asia’s most formidable long in Ether, closed its final hand last week after building $2.1 billion in leveraged longs, per Arkham’s notes. The exit left an $869 million seal of loss, even as its founder, Jack Yi, had preached a $10 000 climb just days earlier.

Diverging Signals

Not every voice in the sea leans bullish. Wise Crypto, for instance, cautions that Bitcoin’s recent 9 % rebound between 12 and 15 February may be a mirage. The technician points to hidden bearish divergence on the 12‑hour charts and a 90 % spike in NUPL-a sign that many are over‐selling their dreams.

Key support levels anchor at $65 000-$66 000, with the psychological floor at $60 000. Yet a recent poll by Ali Martinez shows only 22.7 % believe $60 000 is the low, while the majority foresee a plunge toward $38 000.

Following the trend of market intelligence from Santiment, BTC’s culture appears to move contrary to crowd expectations, implying a possible rally if fear shackles sentiment for long enough.

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2026-02-16 22:36