Bitcoin whales trim longs, signaling classic Wyckoff springs

Bitfinex whale longs fall after 73,000 BTC peak, signaling potential volatility as whales reduce ~220,000 BTC while smaller holders accumulate

  • Bitfinex whale long positions fell after peaking near 73,000 BTC in late December.
  • Historical patterns show whale long unwinds often precede large BTC price moves.
  • “Bitfinex whales are aggressively closing $BTC longs, a signal that historically precedes massive volatility,” a market commentator noted.
  • CryptoQuant data indicates whale holdings dropped by roughly 220,000 BTC in 2025 while smaller holders increased exposure.
  • “Overall, Bitcoin seems to be transitioning from a cycle dominated by whale-driven accumulation into a phase supported by a wider base of investors,” according to a CryptoQuant Quicktake.

Data from TradingView shows long positions by large accounts on Bitfinex began falling after a peak near 73,000 BTC in late December. Traders see the move as notable because similar unwinds have preceded strong Bitcoin Price swings. Market commentators linked the action to clearing leverage ahead of renewed upside.

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A well-known commentator, MartyParty, highlighted the pattern and referenced a prior unwind in early 2025. “Last time this ‘unwind’ happened in early 2025, Bitcoin was stalling at $74,000,” he said, adding context from Wyckoff analysis about a prior swing low labeled a “spring.” “The flush cleared leverage and ignited a 50% rally to $112,000 in just 43 days,” the commentary noted, and it also suggested a fractal move could target $135,000+ with current consolidation near $91,500.

Onchain analytics from CryptoQuant show a broader shift in holdings over the past year, with large wallets reducing coins by about 220,000 BTC in 2025. Contributor CryptoZeno wrote that smaller investor classes have increased exposure, calling it a sign of a “maturing market cycle.” “Overall, Bitcoin seems to be transitioning from a cycle dominated by whale-driven accumulation into a phase supported by a wider base of investors,” the piece stated.

CryptoQuant also addressed claims that whales were accumulating around $90,000, arguing the onchain data did not support that interpretation.

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