Bitcoin Whale Exodus Drives Price to $64k as Retail Buys Hit 20-Month High

VADODARA, February 6, 2026 — Whale wallets dumped 81,068 BTC over eight days. This massive sell-off drove Bitcoin price to $64,290. According to Santiment on-chain data, whale supply share fell to a nine-month low of 68.04%. Retail addresses with less than 0.01 BTC hit a 20-month high of 0.249%. Market structure suggests a classic bear market setup.

Investigation: Whale Selling Meets Retail Accumulation

Santiment analysis confirms a stark divergence. Whale wallets holding 10 to 10,000 BTC reduced their supply share to 68.04%. This marks a nine-month low. These entities sold 81,068 BTC in just eight days. In contrast, retail addresses increased their holdings to 0.249% of total supply. That is a 20-month high. Santiment describes this dynamic as typical for bear markets. The firm predicts whales will continue selling. They will observe from the sidelines until retail capitulation occurs.

Market Context & Historical Precedent

Historically, whale distribution precedes major corrections. The 2021 cycle saw similar patterns before the $69,000 all-time high correction. In contrast, retail accumulation often signals late-cycle euphoria or impending panic. Underlying this trend is a liquidity grab by institutional players. They are exiting positions ahead of potential macroeconomic shifts. Related developments include Bitcoin breaking below $66,000 support and crypto futures liquidations hitting $431 million in one hour amid extreme fear.

Technical Architecture & Price Action

Bitcoin price action shows a clear breakdown. The asset trades at $64,290, down 11.58% in 24 hours. Key support at the Fibonacci 0.618 level of $62,000 is critical. A break below this level would invalidate the current bullish structure from the 2025 low. Resistance now forms at the $68,000 order block. RSI readings indicate oversold conditions. However, volume profile shows selling pressure persists. The 200-day moving average at $70,500 acts as a major resistance zone.

By The Numbers

Why It Matters

This whale exodus matters for institutional liquidity cycles. Large holders are front-running retail sentiment. They are creating a supply overhang. Retail buying at highs often leads to capitulation. Market structure suggests a final flush-out is needed. This could establish a stronger foundation for the next leg up. On-chain data indicates whale wallets are waiting on the sidelines. They will likely re-enter after retail exhaustion.

Expert Commentary

"The data shows a clear distribution phase. Whales are taking profits while retail accumulates. This is a classic sign of a market top or correction. Until retail fully capitulates, whales will remain cautious. The key is watching for a surge in exchange inflows from small addresses," said the CoinMarketBuzz Intelligence Desk.

Market Outlook & Price Scenarios

Two data-backed scenarios emerge from current market structure.

• Bullish Invalidation Level: $68,000. A break above this resistance would signal whale re-accumulation and invalidate the bearish thesis.
• Bearish Invalidation Level: $62,000. A break below this Fibonacci support would confirm continued distribution and target lower levels.

The 12-month institutional outlook hinges on retail behavior. If capitulation occurs swiftly, whales may re-enter, setting up a rally into 2027. However, prolonged retail holding could extend the downtrend. The 5-year horizon remains bullish due to Bitcoin's fixed supply and adoption trends, but short-term pain is likely.