Feb 11, 2026
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BEARISH 📉 : Bitcoin Whales Realize Losses as Market Faces Redistribution Phase
Bitcoin is striving to reclaim the $70,000 level amid ongoing market volatility. Repeated failures to hold this level indicate fragile demand, with each attempt met by selling pressure. This suggests a corrective phase rather than a sustained recovery as traders seek stabilization signals.
- Large holders, or whales, who bought near $96,000, face unrealized losses due to price declines.
- Realized losses among large Bitcoin holders reached significant levels, highlighting market redistribution.
- Losses on Feb. 3-6: $944M, $431M, $1.46B, and $915M respectively.
- Whale selling at a loss indicates weakened conviction and risk management priority, leading to market redistribution where coins move to buyers at lower prices.
- The estimated cost basis for recent large holders is around $90,000, suggesting potential resistance if prices recover.
Bitcoin's price structure indicates a distribution-dominated market rather than demand recovery. Persistent downtrends and aggressive selloffs have followed failed attempts to consolidate above the $90K–$100K region.
- The $60K–$65K range emerges as critical support. Holding above this could stabilize sentiment, but failure may increase volatility.
- Current market structure reflects redistribution, not confirmed accumulation, maintaining elevated downside risks.