New Bitcoin whales have incurred losses of over $228 million since mid-June. This situation has triggered market volatility and panic selling. Significant price movements on June 17 and 22 reveal that new investors quickly closed their positions due to geopolitical pressures, especially around the resistance levels near $110,000.

The high whale ratio on cryptocurrency exchanges indicates that whales are preparing for sales. This situation is restricting Bitcoin's rise and maintaining market instability.

Bitcoin rose to $105,900 on Tuesday after news of a ceasefire between Israel and Iran. However, a sudden wave of panic and FUD (fear, uncertainty, doubt) from new whales is causing increased volatility in Bitcoin.

According to CryptoQuant data, the significant realized losses of new whales are one of the main reasons for the pressure on the market. These investors are aggressively selling in response to their losses, accelerating the decline in prices.

The Role of New Whales in Bitcoin Price Fluctuations

Since mid-June, the price of Bitcoin has been quite volatile. Bitcoin, which was trading at around $107,000 at the beginning of the month, fell below $100,000 after rising above $110,000.

According to CryptoQuant analyst JA Maartunn, between June 14-22, whales experienced a loss of approximately $228 million in Bitcoin. A loss of $95 million that occurred in a single day on June 17 constitutes a significant portion of these losses.

The majority of these losses, about $85 million, came from new whales, while old whale investors only incurred a loss of $8.2 million.

On June 22, another wave of loss of $51 million was observed; this time the losses were more evenly distributed between new and old whales.

New whales emerge as investors who enter positions at higher prices within the market and are more prone to panic selling in the face of geopolitical uncertainties. These rapid exits increase price fluctuations and particularly strengthen the critical resistance level around $111,000.

Impact of Whale Ratios

CryptoQuant's 'Cryptocurrency Exchange Whale Ratio' remained high throughout June, indicating that whales transferred their Bitcoins to exchanges before selling.

This ratio has significantly increased during Bitcoin's attempts to rise above $110,000; it appears that whales are preparing sell orders at these levels, which is hindering upward momentum.

The ratio decreased temporarily when the price of Bitcoin fell below $102,000, but it rose again during the recovery to $105,900. This dynamic indicates that whales are continuously managing risk, creating selling pressure and uncertainty in the market.

Geopolitical Developments and Whale Concerns

The Israel-Iran conflict and the subsequent announcement of a ceasefire have increased anxiety in the markets. Particularly, new whale investors are quickly reacting to negative news headlines by increasing their sales.

These sudden sales are increasing volatility; traders using leverage are facing margin calls, which deepens price declines and prevents a sustained rise.

Analysts emphasize that for Bitcoin to maintain its level above $111,000, whale sales need to decrease. Lower realized losses and a drop in entries to exchanges will indicate that market confidence is recovering.


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