Bitcoin News

Story: Bitcoin Turns Red Again as Analysts Flag Rising Whale Demand

By Sakamoto Nashi

1 / 15

Bitcoin Breaks Its Usual November Trend. Bitcoin has historically performed extremely well in November.

2 / 15

But 2025 is not following the script.. October closed with a 3.69% decline, surprising traders who expected a seasonal boost.

3 / 15

Short-Term Holders Face Pressure as BTC Drops Below Key Cost Basis. Bitfinex highlighted that Bitcoin’s price has fallen below the lower band of the short-term…

4 / 15

Two Possible Market Paths: Rebound or Extended Accumulation. Following the recent drawdown, analysts say Bitcoin is now at a crossroads.

5 / 15

1. A meaningful resurgence in demand. This scenario would likely emerge if whales continue re-accumulating and macro sentiment stabilizes.

6 / 15

2. A longer and deeper accumulation phase. If demand remains weak, Bitcoin could enter a broader consolidation range similar to previous…

7 / 15

Whale Demand Appears to Be Reawakening. While retail sentiment remains soft, whale activity is showing the first signs of improvement.

8 / 15

Seasonal Trends Cooling Off, but December Still Historically Mild. Bitcoin’s mixed performance is also challenging long-held assumptions about seasonality.

9 / 15

Conclusion. Bitcoin’s back-to-back monthly declines are unusual, especially during a period where seasonal…

10 / 15

Bitcoin is heading for another monthly decline, marking a rare deviation from its usual strong performance in the fourth quarter.

11 / 15

Bitcoin has historically performed extremely well in November. Data from CoinGlass shows that November is typically Bitcoin’s strongest month, delivering an average gain of 40.82%.

12 / 15

October closed with a 3.69% decline, surprising traders who expected a seasonal boost. Now, November is also on track to end in the red, with Bitcoin trading 20.

13 / 15

At the time of writing, Bitcoin sits near $87,305, according to CoinMarketCap — a level that reflects ongoing uncertainty across crypto markets.

14 / 15

Bitfinex analysts noted that “historic seasonality metrics have failed to hold up” this quarter, raising questions about whether traditional patterns can still be relied on in a…

15 / 15

Short-term holders — those who have held their BTC for less than 155 days — currently have an average realized price of $86,787.

The Currency Analytics

Want the full story?