Bitcoin News

Story: Bitcoin Whale Activity Raises Questions About the Next Bull Run

By Maheen Hernandez

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Investors Shifting from Futures to Spot Market. Recent market trends show a clear shift in investor behavior.

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The Drop in Exchange Supply Ratio. Another interesting indicator of changing market dynamics is the decline in Bitcoin’s Exchange…

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Whale Behavior: Are Large Holders Hesitant?. While the decline in ESR suggests cautious optimism among retail investors, the actions of Bitcoin…

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The Struggle Between Bulls and Bears. At the moment, Bitcoin finds itself at a crossroads.

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What Lies Ahead for Bitcoin?. The current market situation highlights the ongoing battle for dominance between large Bitcoin…

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Bitcoin (BTC) has been struggling to regain its upward momentum since it hit a high of $116,000 earlier this year, following a recent market crash.

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Recent market trends show a clear shift in investor behavior. Following a series of heavy liquidations on Binance in mid-October, investors have become increasingly cautious.

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Since October 10, 2025, the cumulative volume of Bitcoin traded on the Spot market has surged dramatically.

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Another interesting indicator of changing market dynamics is the decline in Bitcoin’s Exchange Supply Ratio (ESR) on Binance. As of mid-October, the ESR reached 0.

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Historically, such a decline in the ESR has been a precursor to significant price recoveries.

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The surge in the Exchange Whale Ratio is largely attributed to “sharks”—Bitcoin holders with between 100 and 1,000 BTC.

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Additionally, the Bitcoin Fund Flow Ratio has also spiked to 0.11, reinforcing the notion that large entities are pushing more Bitcoin into exchanges.

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At the moment, Bitcoin finds itself at a crossroads. The actions of retail investors accumulating Bitcoin on the Spot market are in direct contrast to the behavior of large…

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Currently, Bitcoin’s price is trading within a narrow range of $106,071 to $114,039, as both bulls and bears fight for control.

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However, if demand from the Spot market remains strong enough to absorb the growing supply, a breakout above the $114,000 mark could trigger a renewed bullish trend.

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