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New Bitcoin Whales Are Fueling Market Volatility | Weekly Whale Watch

2 mins
Updated by Mohammad Shahid
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In Brief

  • New Bitcoin whales have realized over $228 million in losses since mid-June, driving volatility and panic selling.
  • Key spikes on June 17 and 22 show newer investors exiting quickly under geopolitical pressure, especially near resistance levels like $110,000.
  • Elevated Exchange Whale Ratio signals whales are preparing sell-offs, capping Bitcoin's upside and sustaining market instability.
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Bitcoin is back to $105,900 after the Israel-Iran ceasefire on Tuesday. However, sudden panic and FUD from newer Bitcoin whales are increasingly fueling volatility for the largest cryptocurrency. 

CryptoQuant highlights large realized losses by new whales as a key driver. These investors have sold Bitcoin aggressively under pressure, amplifying market downturns.

How New Whales Drive Bitcoin’s Recent Price Swings

Since mid-June, Bitcoin has fluctuated widely. It started June near $107,000, rose above $110,000, and plunged below $100,000

Between June 14 and June 22, whales realized approximately $228 million in Bitcoin losses, according to CryptoQuant analyst JA Maartunn. A significant spike occurred on June 17, with $95 million in losses in a single day.

Most of these losses—nearly $85 million—came from new whales, compared to only $8.2 million from older whale investors. 

Another notable spike appeared on June 22, totaling $51 million, more evenly split between new and old whales.

bitcoin whale profit
Bitcoin Whales Realized Profits. Source: CryptoQuant

New whales, who recently entered at higher price levels, appear more prone to panic selling amid geopolitical tensions. Their rapid exits intensify price swings and reinforce resistance at critical levels, particularly near $111,000.

Exchange Whale Ratio Shows Selling Pressure

Further supporting this trend, CryptoQuant’s Exchange Whale Ratio remained elevated through much of June. 

This indicator is a measure of whale activity on exchanges. A high ratio indicates whales actively depositing Bitcoin to exchanges, typically ahead of selling.

Data shows this ratio rising around Bitcoin’s attempts to break above $110,000. Whales appeared to prepare sell orders at this level, limiting potential upward momentum.

The ratio briefly fell as Bitcoin dipped below $102,000, then climbed again when prices rebounded toward $105,900. 

bitcoin whale exchange ratio
Bitcoin Exchange Whale Ratio. Source: CryptoQuant

This activity suggests whales continuously manage risk, creating selling pressure and market uncertainty.

Geopolitical Uncertainty Amplifies Whale Anxiety

Recent geopolitical events—including the Israel-Iran war and subsequent ceasefire announcement—have increased market nervousness. 

Newer whale investors seem especially sensitive, reacting quickly to negative headlines.

Such rapid selling triggers further volatility. Leveraged traders face margin calls, amplifying price declines and hindering sustained upward momentum.

To sustain a breakout above the key $111,000 level, analysts say whale selling must ease. Lower realized losses and reduced exchange inflows would indicate improved market confidence.

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Mohammad Shahid
Mohammad Shahid is an experienced crypto journalist with a specialization in blockchain security. He covers a wide range of topics spanning everything from Web3 to retail crypto. As an experienced freelance journalist, he has worked on campaigns for several tier-1 exchanges, such as Bitget, and startups, including RankFi and HAQQ. Mohammad comes from an extensive technical background, with a master’s degree in Cyber Security Analysis from Macquarie University, where he majored in...
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