Santiment points to a warning sign for Bitcoin
Since October 12, whales have sold 32,500 BTC, while small investors have been actively buying on the decline. This divergence in behavior is a warning sign for Bitcoin, Santiment experts noted.
Source: Santiment.
“Historically, prices tend to follow the direction of whales, not retail,” they emphasized.
Capriole Investments founder Charles Edwards noted an increase in cryptocurrency sales by long-standing holders (those with more than seven years' holdings) throughout 2025. Large-scale profit-taking is putting pressure on the asset's price.
Glassnode confirmed that this trend is a key feature of Bitcoin's current cycle.
Using on-chain data, we can dig deeper.
Here, we highlight moments when 7y+ whale wallets spent >1K BTC/hour.
The key distinction in this cycle is that these OG whale high-spending events occurred more frequently throughout, signaling persistent distribution.
📊… https://t.co/JFGzjwMYeC pic.twitter.com/aJg2yTl8ur
— glassnode (@glassnode) November 7, 2025
After falling below $100,000 on Friday, the price of digital gold briefly recovered to ~$103,700. At the time of writing, quotes are holding above $102,000 (CoinGecko).
Bitfinex analysts believe that cryptocurrencies are headed for a period of consolidation and some volatility in the short term. They stated in a comment to Cointelegraph that there will be no “clear breakout” to new highs.
“We believe that inflows into the ETF in early October pushed the price to around $125,000, but then macroeconomic shocks in the middle of the month, expiration of large options and profit-taking pushed it back down to the $100,000 mark,” the analysts note.
According to SoSoValue, spot Bitcoin exchange-traded funds attracted $240 million on November 6 after six days of continuous capital outflows. However, the following day, investors withdrew more than $558 million from the products.
Source: SoSoValue.
According to Bitfinex analysts, a recovery in weekly inflows into the BTC ETF to $1 billion and an improvement in macroeconomic conditions will give the cryptocurrency a chance to reach $130,000.
Nansen senior analyst Jake Kennis believes that while Bitcoin typically sees a year-end rally, “recent liquidations and the collapse of market structure make this much less likely in the near future.”
But if the dynamics “change dramatically,” we could see new Bitcoin highs as early as 2025, the expert added.
As a reminder, as leverage and relative volatility normalize compared to gold, the leading cryptocurrency could rise to $170,000 over the next 6-12 months, according to JPMorgan's forecast.
Source: cryptonews.net
