Bitcoin BTC Whales Flood Market as $645M Liquidations Hit Key Support

Bitcoin price faced heavy pressure this week as liquidations climbed to $645 million within 24 hours, according to That Martini Guy B. Long positions absorbed $459 million in losses as Bitcoin dropped to $88,000, while short sellers lost $185 million. The drawdown pushed the BTC price toward a familiar support zone that traders have tracked throughout the current cycle.

Santiment data showed the largest spike in whale transactions this year, with more than 102,900 transfers above $100,000 and over 29,000 transfers above $1 million. The firm said the week could become the most active whale week of 2025 as activity shifted from heavy selling to gradual accumulation.

The Bitcoin chart showed a clear downward channel forming over the past six weeks, with the price hovering around $91,900 at the time the images were captured. The structure placed BTC near a crucial reaction zone noted by traders, who pointed to narrowing volatility and declining leverage as potential direction indicators.

Whales Accelerate Activity as Liquidations Hit Bitcoin BTC Hard

Market participants faced heavy volatility as liquidation heatmaps showed Ethereum and Bitcoin leading losses. ETH saw $212.49 million in liquidations, while BTC posted $164.47 million. Solana lost $33.67 million, and XRP followed with $19.4 million. Zcash recorded $73.37 million on the short side.

Grande MoonBoy commented under the liquidation post that the wipeout showed how stretched both sides were. He said the simultaneous hit to longs and shorts suggested the market was shaking out the last pockets of leverage.

Santiment said whale behavior moved “gradually from dumping to accumulating again,” indicating a potential transition in sentiment. The data reinforced the idea that whales reacted strongly to the price drawdown, a pattern that often appeared before local recoveries in previous cycles.

Traders Track Downward Channel and Key Trendline Reclaim

Bitcoin traded inside a clear descending channel on the daily chart. The trendline rejection remained consistent, pushing BTC lower each week as macro pressure and market positioning weighed on sentiment.

Captain Faibik posted that Bitcoin could reclaim the trendline resistance, noting a possible 10% rally if bulls broke above it. He highlighted a short-term structure on the BTC/USDT pair that aligned with oversold conditions.

The move would place Bitcoin near psychological levels that traders monitored closely. The drop to $88,000 earlier in the session marked one of the sharpest tests of buyer interest since the early-year surge. The chart structure showed compressed spacing between lower highs and lower lows, hinting at a possible reversal if volatility contracted further.

A second post from a trader noted a falling wedge consolidation on the BTC pair for Chainlink, underscoring the broader market’s alignment around tightening patterns. Falling wedge structures appeared frequently across altcoins during the drawdown, amplifying expectations for trend reversals if broader conditions stabilized.

Long-Term Holder SOPR Hits Support as Analysts Watch Rebound Zone

Another source highlighted the Long-Term Holder Spent Output Profit Ratio (LTH SOPR), saying Bitcoin approached a key support line that held throughout the cycle. The indicator often marked macro bottom zones when long-term holders sold at a loss, producing sentiment resets.

The analyst stated that the support level remained intact and described the area as “a suitable zone for a rebound,” unless Bitcoin had entered a full bear market. The commentary aligned with the whale accumulation trend observed by Santiment, suggesting that long-term holders were reluctant to sell aggressively at current levels.

Long-term holder selling appeared limited, the source said, and preserving profit could shift market sentiment. Historically, LTH SOPR support formed the foundation for mid-cycle recoveries, especially when selling pressure slowed and exchange flows flattened.

Market Eyes $88K Reaction Zone as Cycle Support Holds

The combination of whale accumulation, reduced long-term selling, and a compressed downward channel positioned Bitcoin BTC near a decisive zone. Traders observed the $88,000–$92,000 band as a potential rebound range, matching the area tested repeatedly on the TradingView chart.

The recent surge in liquidations amplified the case for a stabilization phase. Heavy liquidations often preceded relief rallies, especially when whales returned to accumulation. The data from Santiment showed one of the strongest rebounds in whale participation this year.

Traders remained cautious, but the shift in positioning aligned with previous mid-cycle retracements. The falling channel structure positioned Bitcoin near its lower boundary, echoing earlier technical setups that had led to breakout attempts once selling momentum had exhausted.

For now, Bitcoin has held near support while long-term holders and whales have influenced the direction. The next move depended on whether bulls reclaimed the descending trendline and absorbed remaining leverage after the week’s shakeout.