The world’s largest cryptocurrency journey with market capitalization to new peaks is shaped by hidden conflicts among the largest holders.
According to crypto analyst Carmelo Alemán, the behavior of Bitcoin (BTC) whales has a fundamental division that has created a market that is being tug between immobility beliefs and short-term speculation.
Whale split: gentle accumulation and aggressive trade
In his latest rating, Aleman pointed out that not all Bitcoin Zillas work with the same strategy.
The largest holders of the market, the holders with over 1,000 BTC, are divided into two different groups with opposite effects on price action. On the other hand, long-term holders (LTH) whales have maintained Bitcoin for over 155 days, with an average price of just $41,887, and have now earned around 3.72 million btc. Experts say that the group’s behavior is usually mild and mild, with little response to moderate price drops and is characterized by strategic accumulation.
Meanwhile, the Short-Term Holder (STH) whales have purchased around 1.07 million BTC at a much higher average cost of around $111,299. This cohort, often composed of institutions and other new entrants, usually displays more aggressive trading patterns and is frequently relocated during pullbacks to reduce average costs, injecting considerable short-term volatility into the market of the process.
This difference in behavior is that it creates structural tensions under the movement of Bitcoin’s price.
“The distinction between LTH and STH whales is important as different behaviors directly affect market volatility,” writes Aleman. “As STH whales become more active, a higher cost base often leads to short-term movements. In contrast, a steady accumulation of LTH whales provides stability and price support.”
Performance also occurs against complex backgrounds. As previously reported by Cryptoquant, taker purchase volumes have been falling sharply in major exchanges such as Binance, indicating a weakening of demand for OG cryptocurrency from aggressive buyers. Historically, this pattern has preceded extended integration or prominent pullbacks.
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Still, the basic health of blockchain appears to be solid. Data from the tail end in September confirmed that Bitcoin hashrate was recorded at 1.441 Zetahash per second, as observed by observers as a sign of increased trust and network security for strong miners.
Market outlook is turning demand and momentum on
The immediate future for Bitcoin appears to depend on which group of heavyweight investors will have the advantage and whether broader market demand can bounce back.
The stability provided by LTH whales provides a solid foundation for price support on a low cost basis, but the constant activity of STH whales, which are sensitive to price fluctuations due to their high entry points, allows for rapid, short-term movements.
In the meantime, traders will monitor key technical levels. A clean break above the $115,000 resistance can confirm bullish tech setups and cause new pushes. However, the presence of a CME futures gap, which is at a level where prices tend to revisit, close to $110,000, means that there is still a possibility of a short-term dip.
