- David Bailey, CEO of Nakamoto, says Bitcoin is being held back by two massive whales.
- Recent whale sell-offs triggered billions in liquidations and market volatility.
- Analysts project Bitcoin could reach $150,000–$250,000 by year’s end once selling pressure eases.
- Fear & Greed Index fluctuates as sentiment remains fragile.
Bitcoin Stalled by Whale Activity
Bitcoin’s journey toward new highs is being slowed down by two massive whales, according to David Bailey, CEO of Bitcoin holding company Nakamoto. Bailey argued that if not for their continued selling, Bitcoin would already be trading at $150,000.
Also Read: Cardano Price Dips Below $1 but Whale Activity Points to Upside
In a recent X post, Bailey stated:
“The only reason we’re not at $150K right now is two massive whales.”
Whales—individuals or organizations holding large amounts of Bitcoin—can significantly sway the market when they sell. Their moves are closely watched as they often trigger sharp volatility in both price action and market sentiment.
Whale Sell-Offs Trigger Market Shocks
In late August, whale activity shook the Bitcoin market:
- August 24: A whale sold 24,000 BTC worth $2.7 billion, sparking a flash crash and wiping out nearly $500 million in leveraged positions within minutes, according to QCP.
- August 21: Another long-term holder offloaded $4 billion in Bitcoin through decentralized exchange Hyperliquid, rotating funds into Ether.
These heavy sell-offs pressured the Crypto Fear & Greed Index into “Fear” territory before stabilizing at a “Neutral” score of 49 on Tuesday.
Analysts Eye Higher Targets
Despite the near-term pressure, analysts remain bullish on Bitcoin’s long-term trajectory:
- Steven McClurg (Canary Capital): Over 50% chance Bitcoin reaches $140K–$150K before a new bear market.
- Alex Thorn (Galaxy Digital): Forecasts Bitcoin hitting $150K–$180K by end of 2025.
- Arthur Hayes (BitMEX) & Tom Lee (Fundstrat): Expect Bitcoin to soar as high as $250,000 by year’s end.
This suggests that once whale-driven selling subsides, Bitcoin could break out to fresh all-time highs.
While whale sell-offs remain the biggest hurdle for Bitcoin in the short term, sentiment among top analysts points to significant upside. If the market absorbs the selling pressure, $150,000 may just be the start—with $250,000 on the horizon.
About the Author
