The attraction from organizations is gradually declining, while key performance indicators are continuously falling. Even new whale groups are suffering significant losses. However… long term holders (LTH) remain steadfast in buying in, showing no signs of slowing down.
Below is a detailed overview.
Is BTC cooling down?
Source: AlphractalThe risk-return data of Bitcoin is showing signs of weakening. Both the Sharpe Ratio and Normalized Risk Metric (NRM) are on a downward trend, reflecting a year of underwhelming performance and waning investor enthusiasm.
Source: AlphractalAccording to Joao Wedson, CEO of Alphractal, this cautious phase in institutions could be a stepping stone for a market “reset”, or even an unexpected volatility.
In a post on X (formerly Twitter), he shared:
“When the indices fall, it often reflects the lack of enthusiasm and confidence of investors… and it is at this moment that the market tends to create surprises.”
Even if Bitcoin reaches new highs, the strongest explosive part of this cycle may be behind us.
Challenges of New Cash Flow
According to data from CryptoQuant, new whale groups are facing significant pressure. Since the end of October, Bitcoin has continuously fluctuated below the Average Cost Basis of approximately $110.8 thousand, pushing many investors into a state of deep losses.
Source: CryptoQuantIn just a few days, this group has recorded a loss of over 1 billion USD, with the figure reaching 515 million USD on November 7 alone. This sharp decline is testing the confidence of the whales, while also creating a clear tension between old money and new money in the market.
The next direction of Bitcoin may depend on whether these whales will patiently hold their positions or choose to sell off.
Long term holders (LTH) are “locking tight”
Source: CryptoQuantDuring the period from 24/10 to 7/11, whales holding more than 10,000 BTC have significantly increased their holdings, nearly doubling, accumulating an additional 36,000 BTC in just a few weeks.
Source: CryptoQuantThis accumulation model reminds us of the periods before strong market recoveries, as seen in 2020. While the majority of the market remains cautious, these large investors seem to be quietly preparing for the “long term game.”
Amid all existing fluctuations, the most powerful holders of Bitcoin remain steadfast, ready to await the next move of the market.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
In the past hour, the entire network has liquidated $90.08 million, and crude oil futures contracts have liquidated $29.2 million.
Gate News Report, March 9th, Coinglass data shows that in the past hour, the total liquidation across the entire network reached $90,084,300, with long positions liquidated at $43,935,600 and short positions at $46,148,700. By asset type, XYZ:CL (Crude Oil Futures Contract) liquidation was $29.2 million, and BTC liquidation was $22.12 million.
GateNews22m ago
Bitcoin Price Bounces, But Bears Are Still in Control: Analysis
In brief
Bitcoin is up 4.78% today trading at $69,128.
Last week's apparent triangle breakout closed as a massive bullish wick — a classic false breakout signal.
On Myriad, prediction market traders are split among bulls and bears, with no clear consensus on which way the squeeze
Decrypt42m ago
BTC 15-minute increase of 1.42%: On-chain capital inflow and technical breakout points resonate to trigger buying interest
From 19:15 to 19:30 on March 9, 2026 (UTC), the BTC price experienced a 15-minute return of +1.42%, with trading ranges between 68,377.3 and 69,365.3 USDT, and a volatility of 1.44%. This fluctuation far exceeds the regular intraday volatility levels, with market attention significantly heightened, and short-term buying surges intensifying the volatility.
The main driver of this movement was net inflow of on-chain funds, triggered by large transfers from major holder accounts, along with buy orders breaking through key technical resistance levels.
GateNews51m ago
Bitcoin Leads $619M Weekly Inflows Amid Geopolitical Jitters and Oil-Driven Pullback
The digital asset market showed a strange kind of calm last week, not reckless, not euphoric, just strangely stubborn. According to CoinShares, investment products tied to cryptocurrencies pulled in a net US$619 million, a sign that, even amid geopolitical jitters tied to Iran, a meaningful chunk of
BlockChainReporter1h ago
