Well, darling, it seems Bitcoin is bustling along like a champagne cork popping-above the $90,000 mark on a rather gauche Friday, January 2nd. One might think that such scintillating momentum was driven by a secret cabal of whales, but alas, an on-chain sage has whispered tales of a different sort: the whales are not exactly throwing a dance party in the market tonight. 🐋💃
Look Closer: BTC Whale Holdings Are Shrinking Faster Than My Waistline
On the social media platform X (formerly Twitter, darling, not to be confused with the bird), CryptoQuant’s self-proclaimed oracle Julio Moreno declaims that the big fish in the Bitcoin pond are not, in fact, back to their old tricks of gobbling up enormous amounts of BTC. This revelation is based on the oh-so-intriguing charts of Total Whale Holdings and Monthly % Changes, as well as their slightly less glamorous cousins-the Dolphins.
The charts-quite the pièce de résistance-show the total balances of addresses with over 1,000 coins (Whales) and between 100 and 1,000 BTC (Dolphins). And, in a twist worthy of a theatrical comedy, Moreno points out that these figures exclude exchange wallet addresses-those big, sneaky buckets where exchanges lump their holdings, giving us a false sense of grandeur. It’s all a ruse, dear! 🃏📉
Once these exchange addresses are unceremoniously removed from the data, what do we find? Why, the whale and dolphin balances are actually declining. Yes, shrinking faster than hosiery after a long night of dancing. This signals a waning demand-a rather dreary portent for the market’s future. So much for a bullish comeback, wouldn’t you say? 🐋🚶♂️
In plain English, the diminishing whale balances whisper the soft lullaby of a market in decline-a prelude to the much-feared bear market. But fear not, my dear, for the price of BTC stands robust at around $90,320, with a fresh 2% leap just to keep us on our toes. Fancy that? A hop, skip, and a jump, and we’re back where we started. Cheers! 🥂💸
Spot Bitcoin ETFs Are Having a Rough Ride-Like a Bad Hair Day
Moving on to the fashionable world of ETFs-think of these as the high society of crypto. Since debuting, the US Bitcoin ETF market has been throwing some serious shade-minus the fun, of course. The grandest of them all, BlackRock’s IBIT, has been wading through net outflows totaling a hefty $244 million last week, marking its second week running of such a trend. How utterly charming. 🥀📉
In fact, over the past two years, the ETF has seen only 20 weeks of net inflows, with 8 of the last 10 weeks being nothing but withdrawals. If ever a product needed a facelift, it’s these funds! 🧳💔
And as if that wasn’t enough to thrill the market enthusiasts, overall crypto funds have experienced a staggering net outflow of about $446 million last week alone, the sixth such week in just nine. Well, darling, it seems the party’s over-or at least taking a very long intermission. 🎭📉
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2026-01-03 23:33