Bitcoin’s Dramatic Plunge: Whales Flee Like It’s 1929! 🐳💸

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In the first three days of this week, the total crypto market, that whimsical beast, plummeted by nearly 12.5% from a staggering $3.14 trillion to a mere $2.75 trillion. During this delightful descent, the Bitcoin price, that capricious darling of the digital age, fell from $96,000 to $84,000—a rather alarming 13% drop, if one is keeping score.

At present, the total crypto market cap is experiencing a brief and rather optimistic intraday recovery of 2.72%, rising back to $2.83 trillion. Amidst this recovery, Bitcoin has bounced back to $86,833, marking an intraday recovery of 3.29%. But one must wonder, has the crypto market crash truly bottomed out, or is a more severe correction lurking just around the corner, like an unwelcome relative at a family gathering?

Crypto Quant’s CEO Warns: Panic Sellers Are Noobs

According to Ki Young Ju, the founder and CEO of Cryptocoin, the short-term pullback in the crypto market is as normal as a rainy day in London. According to his latest tweet, a 30% correction in a Bitcoin bull cycle is as common as tea and crumpets, based on the historic bull performances.

If you’re panic selling now, you’re probably a noob.

A 30% correction in a #Bitcoin bull cycle is common—it dropped 53% in 2021 and still recovered to an ATH.

Buying when prices rise and selling when they fall is the worst investment strategy. Invest with a clear plan.

— Ki Young Ju (@ki_young_ju) February 27, 2025

In the 2021 bull market, before reaching a new all-time high, the BTC price dropped nearly 53% in value. Hence, the historical data generalizes the extreme volatility and paints an optimistic future, or perhaps a mirage in the desert of despair.

As per the analyst, buying when prices rise and selling when they fall is the worst investment strategy—akin to wearing socks with sandals. Furthermore, the analyst highlights his previous tweet where he predicted a 30% potential dip from the all-time high.

As per his tweet, the estimated pullback was from $110,000 to $77,000. Quite the rollercoaster, isn’t it?

There’s Always More Room For Correction

In an X post, Ali Martinez, a crypto analyst, has highlighted the potential reversal chances in Bitcoin. The analyst shares Bitcoin on-chain trader realized profit and loss margin for a reversal prediction, which sounds terribly complicated but is, in fact, quite simple.

Since 2022, the best #Bitcoin $BTC buying opportunities have occurred when traders’ realized loss margin hits -12%. Right now, it stands at -8.25%!

— Ali (@ali_charts) February 27, 2025

Since 2022, the buying opportunities have occurred when the trader realized the loss margin hits -12%. Currently, it is at -8.25%, which signals more room for a pullback before a bullish turnaround. Or perhaps just more room for despair.

Whales and Shark Pump The Bearish Trend

Based on the recent tweet by Santiment, more than 10 Bitcoin wallets have collectively dumped 6,813 BTC in the past week. This correlates with the recent price fall of nearly 20%. One can only imagine the panic in the air, like a cat in a room full of rocking chairs.

Over the long term, the Bitcoin price is driven by the whale and shark’s behavior—specifically, the wallets that contain more than 10 Bitcoin. Quite the elite club, I must say.

🐳 Over the long-term, Bitcoin prices are correlated closely with the behavior of whales and sharks (specifically wallets with 10+ $BTC). Since last week, these key stakeholders have dumped ~6,813 coins, the largest drop since last July.

Look for accumulation from this group as…

— Santiment (@santimentfeed) February 26, 2025

Due to this massive dump by key stakeholders, Bitcoin is likely to experience a steeper correction

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2025-02-27 15:18