Analysis: Bitfinex Whale Activity Cools Down, Long Positions Retreat, Market Structure Shift May Herald Expansion Phase

According to TradingView data, the BTC long positions held by Bitfinex whales peaked at nearly 73,000 BTC in late December last year before starting to decline. Historically, this behavior has, in some cases, cleared excessive market leverage and preceded new upward trends. Market observer MartyParty noted that similar whale behavior in the past has signaled expansion phases rather than prolonged downturns.

Additionally, on-chain data from CryptoQuant shows that BTC holdings in whale wallets decreased by approximately 220,000 during 2025. CryptoQuant analyst CryptoZeno stated that BTC appears to be transitioning from a whale-dominated accumulation phase to a phase supported by a broader range of participants. CryptoQuant had previously indicated that much of the whale activity around the $90,000 level reflects portfolio rebalancing rather than direct bearish bets. (Financefeeds)