Bitcoin’s Big Whale Blowout: Will $96K Send Investors Screaming?

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Key Takeaways 

What’s the latest in the Great Bitcoin Sell-Off? 

Turns out, Bitcoin’s long-term holders (LTH) have decided to play the great game of sell-and-hide, pushing the total offload to a staggering $43 billion 🌪️. Negative ETF flows have joined the party, adding more pressure than a in-law at a wedding. 🎩

Can BTC Make a Moonlift? 

Theoretically yes, if ETF inflows decide to throw a comeback party. But most traders are bracing themselves for a plunge, hoping it doesn’t slip below $96K, or worse, into the abyss! 🚀💥

Meanwhile, Bitcoin’s own OG whale, the legendary Owen Gunden, has been busy flipping coins on Kraken-dropping 700 BTC on the 11th of November. This week alone, he’s parted with a cool $200 million worth of BTC, and he’s not even trying to hide it! 🐋💸

This speed-up is just part of a broader purge from long-term holders (LTH), who are shedding their Bitcoin cloaks faster than a mermaid sheds water. Since October, Owen’s stash has dwindled from 11,000 BTC (that’s about $1.4 billion, but who’s counting?) to a modest 5,350 BTC – roughly half a billion bucks, give or take. 🏦

While Owen’s big sell-off is almost complete, the possibility of other OG whales tossing in their hats (and coins) remains a specter on the horizon, threatening a recovery like a rainstorm on a picnic. 🌧️

LTH Offloads Total Tiptoes Past $43 Billion

In November, long-term holders, the stalwarts who’ve kept the faith for over five months, decided it was time to cash out – a whopping 414,000 BTC, worth around $43 billion during the month, if you’re counting in fancy numbers. 💰

Starting from July and accelerating into October, this mass exodus has dragged BTC from a near-mythical $126K to a more modest five-figure sum-$100K. Somebody call the Bitcoin police! 🚓

The big question: if Bitcoin sneaked up to $126K while whales were busy selling, why on earth can’t it do a repeat performance now? Well, in the opening acts of H2 2025, demand from ETFs and treasury folks was so robust it could do the hokey pokey with the sell-offs and still come out smiling. 🤸‍♂️

But recently, that demand line has taken a nosedive faster than a lead balloon-outflows in November hit 31,000 BTC, echoing the early 2025 market blues where tariffs and tensions had everyone clutching their wallets. 😬

Options Traders Playing Chicken: Caution Abounds

With demand looking gloomier than a rainy Sunday, it’s clear that the whale’s splash was more of a ripple-weakening BTC’s momentum. Reversing this tide would require a hefty influx of ETF inflows, which are currently about as welcome as a skunk at a garden party. 🦨

At present, Bitcoin’s trading around $105K, but traders are hedging their bets like a seasoned gambler in Vegas – many are buying puts (those bearish bets, sweethearts) targeting as low as $85K for the year’s grand finale. 🃏

And for options expiring at the end of November, the smart money is quietly stuffing pillows of downside protection, aiming for about $96K-just in case the market decides to have a nervous breakdown. Meanwhile, the daring few have bought calls at $108K, hinting they think there’s still some juice left in this lemon. 🍋

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2025-11-13 06:25