The crypto market is showing renewed caution as large-scale selling by Bitcoin “whales” intensifies and technical indicators continue to weaken. According to the latest Blockhead report on November 4, 2025, on-chain data indicates that long-term Bitcoin holders have begun to offload a significant portion of their holdings.

On-chain analyst Burak Kesmeci noted that over the past 30 days, more than 400,000 BTC have been liquidated by long-term holders. This is tracked using the “Long-Term Holder Net Position Change” metric, which turns negative when a distribution phase begins.

From a technical perspective, Bitcoin’s market momentum is slowing. Short-term indicators remain in the neutral to negative zone, while long-term moving averages are starting to flash sell signals. Key support levels are currently around US$107,200, while major resistance is seen near US$109,600.

Meanwhile, open interest activity is also signaling pressure. Data from SoSoValue shows a negative spread of US$1.68 billion between call and put positions, indicating active hedging and ongoing liquidation in the market.

Why is This Important for the Investors?

  • Distribution from large holders may signal that a major accumulation phase has not yet begun — or may have paused temporarily.
  • Weakening technical signals suggest upward momentum is not yet established, keeping correction risks open.
  • For new entrants, short-term exposure in crypto may involve high volatility and requires a well-planned strategy.

Practical Tips for Navigating This Phase

  • Monitor key support and resistance levels as a reference for potential market direction.
  • Consider portfolio diversification to avoid over-reliance on a single asset.
  • Be aware of your personal risk profile and avoid using funds that cannot withstand high volatility.
  • Keep an eye on regulatory updates and on-chain data, as both can strongly influence market sentiment.

While crypto assets like Bitcoin still carry long-term potential, current conditions suggest that investors should remain cautious and realistic. The growth of digital assets will continue to face market pressures, including whale activity and technical uncertainties. With the right understanding and preparation, investors can navigate this phase more strategically.

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Disclaimer
This material is for general informational purposes only and does not constitute investment advice, recommendations, or an offer to buy or sell cryptocurrencies, digital assets, securities, or derivatives, nor does it encourage any form of investment activity. Mobee is under no obligation to update this report based on new information or developments after publication. Any suggestion or recommendation in this report may not be suitable for all users.