In the last 24 hours, large Bitcoin holders, also known as whales, have added more than 10,000 BTC to their wallets. This significant accumulation comes from on-chain data shared by analyst Ali Martinez, and it follows a steady period of selling, making this sudden shift in activity noteworthy as Bitcoin trades near major support levels.
Whales Accumulate While Price Falls
Whale wallets holding between 1,000 and 10,000 BTC have started buying again. This resurgence in activity has taken place after a month-long decline in their holdings.
Over 10,000 Bitcoin $BTC bought by whales in the last 24 hours! pic.twitter.com/5N3JKqY2fb
— Ali (@ali_charts) November 6, 2025
Meanwhile, Bitcoin has dropped by nearly 7% over the past week. The asset is currently trading below $102,000, and the trading volume remains high, with nearly $70 billion exchanged in the past 24 hours.
Furthermore, data from CryptoQuant indicates that the Exchange Whale Ratio has fallen to around 0.40 to 0.45, which is the lowest range observed in a month. This ratio measures the amount of Bitcoin whales are sending to exchanges. A lower figure suggests that fewer coins are being moved to platforms where they might be sold, implying that whales may be holding or buying rather than preparing to sell.
Another key metric, the Profit and Loss Margin for short-term holders, is currently at -11.16%. Historically, when this number has dropped below -12%, Bitcoin has often seen a trend reversal. Analyst Ali Martinez noted that "Bitcoin has always rebounded when traders’ realized losses fell below -12%" in the last two years. With the current figure nearing that critical level, many market observers are watching closely for a potential bounce.
Price at Long-Term Support Levels
Bitcoin has reached the 50-week exponential moving average, a level that has historically provided support for prices during past market corrections. Analyst Rekt Capital shared that the Relative Strength Index (RSI) is near 44.5, an area from which previous recoveries have often initiated. According to Rekt Capital, for a reversal to take shape, the price and RSI need to form higher lows.
However, not all analysts share this optimistic outlook. Crypto Patel stated, "BTC breakdown confirmed, structure flipped bearish," and warned that the next significant support level to watch could be $83,610. They added that only a sustained move above $116,400 would invalidate this bearish outlook.
CryptoPotato also previously noted that Bitcoin is currently testing the 50-week simple moving average, a line that has marked sharp corrections in the past when broken. If the price fails to hold above this level, the risk of further downside increases significantly.
Global Trends May Weigh on BTC
Daan Crypto Trades linked Bitcoin’s current weakness to shrinking global liquidity, stating:
"Once global liquidity starts expanding again at a rapid pace, the environment for crypto will be much more supportive."
Other analysts point to broader selling pressures across different regions. Ted Pillows mentioned that the United States is currently a key seller, alongside Asia and Europe. He added:
"There’s no chance of recovery until spot bid happens."
Bitcoin's market structure has weakened, and it is now trading below several long-term trendlines. Multiple weekly closes have confirmed ongoing price pressure.