The real reason for the violent Fluctuation of BTC found? Institutional analysis: New Whales are prone to panic dumping

Gate news, after the ceasefire between Israel and Iran, the BTC price rebounded above $106,000. However, fear, uncertainty, and doubt (FUD) emotions from BTC 'Whales' are increasingly intensifying the Fluctuation of the largest Cryptocurrency market. CryptoQuant indicates that the main factor causing this situation is the significant actual losses of new Whales, who are dumping BTC under psychological pressure, thereby amplifying the market's downward trend.

How Does the New Whale Affect the Recent Price Fluctuation of BTC?

Since mid-June, BTC has been fluctuating violently. In early June, the price of this king of cryptocurrency was about $107,000, and then it broke through the $110,000 mark, and then fell below $100,000.

According to JA Maartunn's analysis from CryptoQuant, BTCWhale lost a total of about 228 million dollars from June 14th to 22nd. It is worth noting that on June 17th, the BTC market fell sharply, losing 95 million dollars in just one day.

Most of these losses (nearly $85 million) come from new Whale investors, while senior Whale investors only lose about $8.2 million. Another major loss occurred on June 22, with a total loss of $51 million, and the losses of new Whale investors and old Whale investors are more balanced.

(Source: CryptoQuant)

As geopolitical tensions escalate, those "new whales" who just entered the market at a high price seem more prone to panic selling. Their rapid exits have led to drastic fluctuations in price and reinforced resistance at key levels, especially around $110,000.

Exchange Whale ratio shows that selling pressure keeps increasing

CryptoQuant's data further supports this trend, with the data showing that the Whale ratio on exchanges remained high for most of June.

This indicator measures the activity of Whales on the exchange. A high ratio means Whales are actively depositing BTC into the exchange - a typical sign of preparing to sell.

Whenever BTC tries to break through $110,000, this indicator rises. Whales seem to have sell orders prepared around this level, which suppresses the upward momentum of BTC.

When the BTC price falls below $102,000, the ratio slightly decreases, but when the price rebounds to the $105,900 area, the ratio rises again.

(Source: CryptoQuant)

This activity indicates that Whales are constantly managing risks, thereby creating selling pressure and increasing market Fluctuation.

Recent geopolitical events - including the war between Israel and Iran and the subsequent ceasefire - have increased market uncertainty, making new Whale investors particularly sensitive and quick to react to negative news.

Such hasty selling has exacerbated market Fluctuation. Leveraged traders face the risk of additional margin calls, which could suppress prices and prevent further upward momentum.

Analysts believe that for BTC to consolidate its breakthrough above the key resistance level of $111,000, the reduction in Whale sell is needed. The actual reduction in losses and the decrease in BTC inflows to exchanges will be signs of improved market sentiment.