Whales Cash Out Big Amid Crypto Market Consolidation
Crypto markets are experiencing technical consolidation, with total market capitalization at $2.68 trillion, following a multiday rally.
The current sideways trading is driven by a shift in market dynamics: retail profit-taking is being balanced by large institutional purchases.
Whales have taken over $614 million in profits as Bitcoin (BTC) holds at $78,456 and XRP hits $1.41, while BlackRock absorbs supply amid fresh PCE data.
iShares Bitcoin Trust (IBIT) has absorbed over $5 billion in private in-kind exchanges, showing institutions quietly buying the supply whales are selling.