Bitcoin News Today: Bitcoin's Major Holders Selling Challenges ETF Support at $90k

Bitcoin Sees Increased Whale Activity Amid Market Downturn

On November 21, 2025, Bitcoin experienced a significant rise in exchange inflows, reaching 9,000 BTC—the highest figure in several months. Notably, large investors, often referred to as whales, were responsible for 45% of these deposits, intensifying selling pressure as Bitcoin’s price continued its seven-month slide to $80,600.

Data from CryptoQuant reveals that the average deposit size in November climbed to 1.23 BTC, marking the largest average for the year. This surge in large-scale deposits is often a precursor to major sell-offs, a trend that has historically led to further price drops. Market analysts caution that if these inflows persist, Bitcoin could face additional downward momentum, potentially challenging crucial support zones between $70,000 and $80,000.

Broader Market Trends Amplify Volatility

The uptick in whale transactions is occurring alongside notable shifts in the wider crypto market. Binance’s stablecoin reserves have soared to a record $51 billion, indicating that many traders are moving capital into dollar-backed assets as a precaution during uncertain times. At the same time, combined Bitcoin and Ether inflows to exchanges surged to $40 billion within a week, with Binance and Coinbase leading the way.

This pattern mirrors previous cycles where heavy Bitcoin selling by whales has triggered sharper declines in altcoins, dragging many tokens back to bear market territory.

ETF Activity Offers Limited Relief

Institutional investment through exchange-traded funds (ETFs) has provided some support, but its effect has been modest. According to Arkham, holders of BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw their cumulative profits reach $3.2 billion as Bitcoin rebounded to $90,000. However, ETF inflows on November 27 totaled just $21 million, a stark contrast to the $903 million in outflows earlier in the month. While Ethereum and XRP ETFs also attracted new capital, their influence remains overshadowed by the impact of whale-driven selling in Bitcoin.

Market Outlook: Uncertainty and Diverging Views

Experts remain split on Bitcoin’s near-term direction. CryptoQuant’s analysts warn that continued large deposits from whales could push prices even lower, with James Check highlighting persistent leverage that might force corrections into the $70,000–$80,000 range. Tom Lee of BitMine has scaled back his optimistic projections, suggesting that a return to record highs by year-end is uncertain. In contrast, 10x Research points to a tactical rebound from oversold conditions, identifying resistance levels at $92,000 and $101,000 as key areas to watch. For now, Bitcoin has stabilized above $90,000, hinting at some short-term strength.

Key Factors to Watch

• Whale activity and exchange inflows
• ETF investment trends
• Market leverage and central bank policy shifts

The ongoing interplay between major investors, institutional flows, and broader economic forces continues to shape a highly volatile environment. While heavy selling by whales remains a pressing risk, a slowdown in outflows and renewed buying could help stabilize the market. Investors are encouraged to closely track exchange movements, leverage ratios, and macroeconomic developments as the market approaches a potential inflection point.