Bitcoin Market Shifts: New Whales Dominate Supply Dynamics
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 22 2026- Whale Behavior Impact: New whales, short-term holders controlling over 1,000 BTC, now dominate Bitcoin's realized cap, indicating a shift in market control and resulting in approximately $6 billion in unrealized losses that directly influence their selling behavior.
- Increased Selling Pressure: Data shows that since mid-January, net taker volume from Binance derivatives has mostly been negative, with a sharp drop of -$319 million on January 20, signaling potential further declines in Bitcoin prices.
- Surge in Whale Deposits: On January 20, whale deposits on spot exchanges exceeded $400 million, following a $500 million spike on January 15, indicating increased market liquidity and potential for further price drops in Bitcoin.
- Old Whales Remain Profitable: Old whales maintain a realized price around $40,000, and despite their relatively minor activity, they remain profitable, highlighting the dominant influence of new whales on short-term price dynamics.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
