Bitcoin (BTC) Price: Whale Exchange Inflows Fall to $3.8B While Retail Inflows Rise
by Maisie Morrison · BlockonomiTLDR
Table of Contents
- Bitcoin fell below $80,000 twice over the weekend, hitting lows of $79,200 and $79,300.
- About $34.63 million in BTC positions were liquidated in 24 hours, and 78% of them were longs.
- Fresh Middle East strikes pushed oil higher and caused selling while stock markets were closed.
- Whale inflows to Binance dropped from $5.9 billion to $3.8 billion, while retail inflows rose.
- The Federal Reserve will announce its rate decision on Wednesday, October 28.
Bitcoin (BTC) fell below $80,000 twice over the weekend, touching lows of $79,200 and $79,300. The drop came as fresh military strikes in the Middle East shook global markets.
Over the past 24 hours, about $34.63 million in Bitcoin positions were liquidated. Around 78% of those were long positions, so traders betting on higher prices took most of the losses.
Al Jazeera English and open-source intelligence monitor OSINT613 confirmed aerial intercepts, drone attacks, and retaliatory strikes on Sunday. Saudi Arabia, Turkey, and Pakistan also held a surprise security summit focused on Iran.
Weekend Selling Hits Crypto First
Crypto trades around the clock, so Bitcoin was one of the first assets to react while stock markets were closed. Traders sold perpetual futures and cut spot positions.
Many moved into cash and dollar-pegged stablecoins. Oil prices also climbed as the conflict raised concerns over energy routes.
Higher oil prices can feed into consumer inflation data. That could make it harder for the Federal Reserve to lower interest rates.
Bitcoin has formed lower highs and lower lows over the past three weeks. If losses continue, analysts point to a support zone between $75,000 and $77,000.
CoinGape highlighted $82,000 as a key level. Bitcoin is now trading below that zone, and traders are watching whether it can win it back.
Iran has previously charged shipping companies transit fees in Bitcoin to get around sanctions. The U.S. Treasury has targeted about $1 billion in Iran-linked crypto assets as part of what it calls an “absolute isolation campaign.”
Whales Hold Steady as Retail Sends Coins to Exchanges
Data from CryptoQuant shows the spot average order size has favored large whale orders in recent weeks. A similar signal appeared in July and August, when Bitcoin traded near $60,000 before recovering in mid-August.
The same metric also showed heavy whale activity earlier in the year during strong downtrends. That means the signal does not guarantee a rebound.
Crypto analyst Darkfost shared data showing whales and retail traders moving in opposite directions. Since September, the 30-day average of retail inflows to Binance has been rising.
Over the same period, the 30-day average of whale inflows to Binance fell from $5.9 billion in late August to $3.8 billion. Darkfost said this shows whales are not rushing to sell at current prices.
The analyst added that if retail selling runs out or sentiment turns positive, the earlier uptrend could resume from the $75,000 support zone.
The next major event is the Federal Reserve’s rate decision on Wednesday, October 28. The FedWatch tool shows a 90.6% chance rates stay at 3.75% to 4.00% and a 9.4% chance of a hike.