TradingView data shows that Bitfinex whales' long BTC positions peaked at nearly 73,000 BTC in late December last year before declining. Historically, this behavior has cleared excess leverage in the market in some cases and preceded a new round of upward movement. Market observer MartyParty points out that similar whale behavior in the past has foreshadowed an expansion phase rather than a prolonged decline. Furthermore, CryptoQuant on-chain data shows that whale wallets reduced their BTC holdings by approximately 220,000 BTC during 2025. CryptoQuant analyst CryptoZeno stated that BTC appears to be transitioning from a whale-dominated accumulation phase to one supported by a broader range of participants. CryptoQuant has previously stated that much of the whale activity around the $90,000 level reflects portfolio rebalancing rather than outright bearish bets. (Financefeeds)