Bitcoin Whales Hit The Sell Button — $135K Price Target Now Trending

[Ben Graham]

According to TradingView data, big holders on Bitfinex have been trimming long positions after a late-December peak of 73,000 BTC. The move follows a broader drop in whale holdings of roughly 220,000 BTC during 2025, a change that has analysts and traders parsing what comes next.

Price action has been steady. Bitcoin has been moving inside a tight range around $88,000 to $92,000 while the market seeks direction.

Whale Moves And Historical Patterns

Based on reports, some traders see this as a classic unwind pattern that precedes price gains. In early 2025, a similar fall in long positions coincided with Bitcoin slipping under $74k then staging a sharp rebound.

That past recovery climbed to about $112k in 43 days after positions were flushed. MartyParty, a commentator on X, pointed to that episode when noting Bitfinex whales were “aggressively closing $BTC longs,” a behavior that has in the past been followed by big swings.

Bitfinex whales are aggressively closing $BTC longs, a signal that historically precedes massive volatility. Last time this “unwind” happened in early 2025, Bitcoin was stalling at $74k.

This precedes the Wyckoff Spring. See charts below.

The flush cleared leverage and ignited… pic.twitter.com/2qfmH2eliJ

— MartyParty (@martypartymusic) January 10, 2026

Market Breadth And Investor Mix

Reports have disclosed that on-chain tracker CryptoQuant finds overall whale holdings fell by over 200,000 BTC across the year, while smaller investors have increased exposure. This shift is being read by some as a sign that ownership is broadening.

If more participants hold coins, price moves can be supported by a wider base of buyers. That does not guarantee higher prices, but it does change the way risk spreads through the market.

Price Range And Resistance Levels

Traders are watching a near-term ceiling around $94,000 that has capped several rallies. Bitcoin currently sits near $91.5k. A sustained break above that $94,000 level with volume would be a stronger confirmation for bulls. On the flip side, a failure to move higher could see the range widen to the downside, especially if funding costs rise or if liquidations pick up.

Fractal Targets And Caution

Some analysts are using past patterns to project targets. Based on reports, one scenario maps a repeat of the spring-and-rally sequence, aiming at $135k or more if history repeats closely enough.

That view depends on similar market conditions lining up, which is not certain. Whales are not a single, unified actor; different groups can close positions for different reasons, and some trades are used as hedges rather than bets on price direction.

Volume, funding rates, and net positioning on major derivatives platforms will matter. A clean breakout above $94,000 with rising spot demand would support the bullish case.

Conversely, rising selling pressure at that level could keep Bitcoin confined to the $88,000–$92,000 band until a new catalyst appears. The current action looks like a setup in progress — one that could lead to sharp moves once traders decide on direction.

Featured image from Unsplash, chart from TradingView