A growing divide between Bitcoin whales and retail investors could be signaling potential turbulence ahead for the crypto market, according to new data from blockchain analytics firm Santiment.
In its latest market report, Santiment highlighted that large Bitcoin holders have been steadily offloading their positions, while smaller retail traders are aggressively buying the dip.
“Historically, prices tend to follow the direction of the whales, not retail,” Santiment noted, warning that the trend represents a flashing cautionary signal for the market.
Bitcoin retail traders (red line) have been increasingly buying the Bitcoin price dip as whales (green line) have been selling off. : Santiment
Whales Sell, Retail Buys — A Divergence Worth Watching
Since October 12, on-chain data shows that wallets holding between 10 and 10,000 BTC — typically categorized as whales — have sold approximately 32,500 BTC. During the same period, Bitcoin’s price dropped from $115,000 to $98,000, before rebounding to $103,780 as of Friday, according to BITXJOURNAL.
Meanwhile, small retail wallets have been “aggressively buying the dip,” increasing their accumulation even as whales reduced exposure. Santiment described this as a “major divergence between large and small investors,” adding that such patterns often precede short-term pullbacks in Bitcoin’s price.
Analysts Expect Volatility Before Any Breakout
Analysts at Bitfinex believe Bitcoin could enter a consolidation phase, with heightened volatility but limited downside risk.
“We believe ETF inflows earlier in October pushed the price to around $125,000 before profit-taking and macro shocks pulled it back,” Bitfinex analysts said, noting that spot Bitcoin ETFs recently broke a six-day outflow streak that totaled $2.04 billion.
The firm added that if ETF inflows recover above $1 billion per week and macroeconomic conditions improve, Bitcoin could target $130,000 in the medium term.
Macro Uncertainty Clouds the Outlook
However, not all experts share this optimism. Nansen senior analyst Jake Kennis cautioned that recent market liquidations and structural breakdowns make a rapid rebound “less probable in the near term.”
“There’s still room for meaningful upside into year-end,” Kennis said, “but momentum must shift decisively for Bitcoin to challenge new highs.”
With Bitcoin down 15.8% over the past month, the retail-whale divergence may serve as a critical indicator — reflecting how sentiment and on-chain behavior continue to shape the world’s largest cryptocurrency.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
We use cookies to personalize content and ads, provide social media features, and analyze our traffic. In accordance with GDPR/AVG and EU cookie regulations, data is processed only with your consent. We may share information about your use of our website with our social media, advertising, and analytics partners, and you can manage or withdraw your consent at any time. View more
Cookies settings
Accept
Privacy & Cookie policy
Privacy & Cookies policy
Cookies list
Cookie name
Active
Privacy Policy
At BitxJournal.com, we respect your privacy and are committed to protecting your personal data. This Privacy Policy explains how we collect, process, store, and protect personal information in accordance with the General Data Protection Regulation (GDPR) and AVG (EU privacy legislation).
1. Data Controller
BitxJournal.com acts as the data controller for all personal data processed through this website.
2. Personal Data We Collect
We may collect and process the following categories of data:
Personal Data
Name and email address (when you subscribe to newsletters or contact us)
Technical & Usage Data
IP address, browser type, operating system
Device information
Pages visited, referral sources, and interaction data
This data is collected via cookies, log files, and analytics technologies.
3. Legal Basis for Processing
We process personal data only when a lawful basis exists, including:
Consent – when you explicitly agree (e.g., cookies, newsletter sign-up)
Legitimate interest – to operate, secure, and improve our website
Legal obligation – when required by applicable laws
You may withdraw your consent at any time.
4. Purpose of Data Processing
Your data is processed for the following purposes:
Operating and maintaining the website
Improving content, usability, and performance
Sending newsletters or updates (only with consent)
Analyzing traffic and user behavior
Responding to inquiries or support requests
5. Cookies & Consent Management
We use cookies and similar technologies in compliance with EU Cookie Law.
Non-essential cookies are placed only after explicit user consent
Users may accept, reject, or manage cookie preferences at any time
Consent can be withdrawn without affecting prior lawful processing
Detailed cookie information is available in our Cookie Settings panel.
6. Third-Party Data Processing
We may share limited data with trusted third-party service providers, including:
Analytics providers (e.g., Google Analytics)
Advertising partners (for personalized or non-personalized ads)
These third parties act as data processors and process data only under contractual obligations compliant with GDPR/AVG.
7. International Data Transfers
Where data is transferred outside the European Economic Area (EEA), we ensure appropriate safeguards are in place, such as Standard Contractual Clauses (SCCs) or equivalent legal mechanisms.
8. Data Retention
We retain personal data only for as long as necessary to fulfill the purposes outlined in this policy or as required by law.
9. Data Security
We implement appropriate technical and organizational security measures to protect personal data against unauthorized access, alteration, disclosure, or destruction.
10. Your GDPR Rights
Under GDPR/AVG, you have the right to:
Access your personal data
Rectify inaccurate or incomplete data
Request data erasure (“right to be forgotten”)
Restrict or object to processing
Data portability
Withdraw consent at any time
Lodge a complaint with a supervisory authority
11. Changes to This Privacy Policy
We reserve the right to update this Privacy Policy at any time. Any changes will be posted on this page with a revised effective date.
12. Contact Information
For privacy-related inquiries or GDPR requests, contact:
