Bitcoin Whale Action Late June Reveals Potential Market Turning Point

• Late June showed unusual whale behavior, with both profit-taking and capitulation happening simultaneously.
• Realized losses and institutional rebalancing hint at a potential local market pivot.

The last week of June really made many traders wonder: is this just a regular correction, or is it a signal of a change in market direction? On-chain data shows that Bitcoin whales are not sitting still. CryptoQuant analyst Mevsimi noted an unusual pattern: new whales recorded a profit of more than $641 million, but at the same time suffered a loss of $1.24 billion. Not a common sight.

Bitcoin Whales Stay Calm as Institutions Reshuffle Portfolios

What does it mean? It is possible that some entered at a high price and then gave up, but there were also those who entered earlier in the second quarter and chose to take profits. On the other hand, old whales played it cool. They only realized about $91 million in profit, with almost no significant losses. This means that they are still comfortable in their positions and have not been tempted to close them.

There is one interesting thing: all these events occurred near the close of the first half. Usually, this is the moment for ETFs and institutions to reorganize their portfolios. So it is possible that what we are seeing is not panic, but rather a planned repositioning.

After all, CNF also previously noted that for 11 consecutive weeks, crypto investment products saw non-stop inflows, with Bitcoin taking the largest share—over 83% last week alone. Ethereum also entered the radar, but its figures were still far below, despite attracting an additional $429 million.

Interestingly, this wild movement did not continue into early July. Whale activity suddenly quieted down. It could be because the market was taking a breather, or was just looking for a new moment.

Meanwhile, sentiment in the derivatives market began to tilt. CNF reported that short-term holders had started to dump their positions, and data showed increasing pessimism about Bitcoin’s direction in the near future. However, spot inflows remained solid, totaling $4.63 billion in the past two weeks.

Technically, spikes in losses from short-term players often occur when the market approaches a local bottom. It cannot be used as a definite benchmark, but it is still worth monitoring. Especially if this pattern appears at the same time as strategic moments such as institutional rebalancing. If you are a retail investor who is hesitant, well, that is understandable.

On the one hand, Bitcoin’s price movement is still stable—at the time of writing, BTC is around $107,503, up slightly by 0.82% in 24 hours, still within the range of $105,000–$109,000 in the last 7 days. But on the other hand, the currents beneath the surface show that many are making big decisions.