Bitcoin Trades Steady Over $114K in Asian Session as Whales Step In and Shorts Realign

Bitcoin Holds Above $114K as Whales Step In and Shorts Reset

Bitcoin (BTC) remained steady near $114,000 early Monday, supported by whale accumulation and a mild reset in leveraged positions, even as on-chain data showed the first decline in long-term holdings this cycle.

Long-Term Supply Declines, Whales Absorb the Flow

Data from Glassnode reveal that roughly 62,000 BTC — about 0.4% of Bitcoin’s illiquid supply — have left long-term wallets since mid-October. The move marks the first meaningful drawdown in dormant coins this cycle, suggesting some long-held BTC are returning to liquid markets.

Despite that softening tailwind, whales have been quietly absorbing supply. Large-balance wallets have added steadily over the past month and haven’t sold meaningfully since October 15. Smaller holders, by contrast, have been consistent net sellers since late 2024, indicating a rotation from short-term traders to long-term investors.

Derivatives Market Remains Balanced

Open interest in Bitcoin futures sits around $4.1 billion, according to Hyperliquid, nearly evenly split between longs and shorts. CoinGlass data show about $413 million in total liquidations over the past 24 hours, including $337 million from short positions — enough to relieve pressure but not trigger a full short squeeze.

This combination of modest short covering and spot absorption has helped Bitcoin recover from $110,000 to $114,900, signaling stability rather than speculative momentum.

Range-Bound Outlook Ahead of Fed

With whales holding steady, illiquid supply easing, and leverage neutral, Bitcoin appears set to consolidate between $113,000 and $116,000 in the near term. The next catalyst may come from macro events, as markets await the Federal Reserve’s policy meeting later this week.

Market Snapshot

• BTC: Up from $110K to $114.9K, supported by whale accumulation and light short unwinding.
• ETH: Gained 6% to $4,186, outperforming BTC as traders rotated into higher-beta assets; gains appear momentum-driven rather than backed by new inflows.
• Gold: JPMorgan expects gold to reach $5,055/oz by 2026 and $6,000 by 2028, calling the recent pullback a healthy pause amid rate-cut expectations and rising central bank demand.
• Nikkei 225: Surged past 50,000 for the first time as optimism over U.S.–China trade progress and hopes for stronger domestic demand lifted sentiment in Japan.