Large Holders Reduce Leverage While Historical Bull Pattern Signals Potential Upside
Bitcoin whales on Bitfinex are once again drawing attention after sharply reducing their long positions, a move that has historically preceded major price advances. As overall whale exposure declines, analysts are revisiting a familiar bullish setup that points to a potential six-figure Bitcoin price in the months ahead.
Recent market data shows that Bitfinex whale long positions have fallen from a peak near 73,000 BTC, signaling an aggressive unwind by large, sophisticated traders. These investors are often considered “smart money”, with their positioning closely watched for early trend signals.
Historically, periods when whales close long positions after a local high have coincided with strong upward price moves rather than prolonged declines. A similar pattern appeared in early 2025, when Bitcoin stalled near $74,000 before entering a sharp rally.
MartyParty observed in an X post on the topic Saturday;
Technical analysts are framing the current setup through a Wyckoff accumulation lens. In this model, the market often experiences a “spring” — a temporary dip that clears excess leverage — before a sustained reversal higher. The last occurrence of this pattern resulted in a 50% rally to $112,000 in just over six weeks.
With Bitcoin now consolidating around the $91,000 range, similar fractal analysis points toward a potential upside target of $135,000 or higher if history repeats.
On a broader scale, onchain data indicates that whale holdings declined by roughly 220,000 BTC in 2025, while smaller investors steadily increased exposure. This shift suggests a maturing market cycle, where ownership becomes more distributed and price support is driven by wider participation rather than concentrated accumulation.
While volatility remains likely, analysts note that this transition often aligns with stronger long-term price stability and structural demand, reinforcing bullish expectations despite short-term uncertainty.
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.