Whales Unwind Positions From 73,000 BTC Peak
Starting around January 10, 2026, large-scale investors on the Bitfinex exchange, known as whales, began aggressively closing out their Bitcoin long positions. This move follows a period of accumulation where leveraged longs peaked at 73,000 BTC in late December. Traders closely monitor this "smart money" cohort, as historical data shows that whales taking profit on long positions has often preceded significant upward price volatility. The unwind is seen as a classic bull signal, clearing out leverage before a potential market advance.
Wyckoff Analysis Points to $135K Target
Analysts applying the Wyckoff method to the whales' behavior are forecasting a substantial price increase. A similar unwinding event in early 2025, when Bitcoin was trading at $74,000, acted as a launchpad for a major rally. That previous move, identified as a Wyckoff "spring" phase, ignited a 50% price increase to $112,000 in just 43 days. With Bitcoin currently consolidating near $91,500, analysts believe a fractal repetition of this pattern could propel the price toward $135,000.
With $BTC currently consolidating near $91.5k, a similar fractal move targets $135k+.
— MartyParty, Commentator
Market Ownership Shifts as Whales Reduce Holdings by 200,000 BTC
The recent activity on Bitfinex is part of a broader, year-long trend of whales reducing their overall Bitcoin exposure. According to on-chain analytics from CryptoQuant, whale holdings decreased by over 200,000 BTC throughout 2025. Concurrently, smaller investor classes have steadily increased their positions. This distribution of ownership from a few large entities to a wider base of investors is characteristic of a maturing market cycle, according to analysts. This structural shift may lead to greater long-term price stability as ownership becomes more aligned with broader structural demand.
