Today, the crypto universe decided to take a collective nap, on the red side of the bed. The total crypto market, which is apparently a very generous measuring stick, has shrunk by 1% to a tidy sum of $3.29 trillion—more or less enough to buy a few planets or a small moon.
Bitcoin, the venerable giant of digital coins, slipped by 0.7% to $104,618.95, with its market cap now lounging comfortably at $2.08 trillion, as if it’s just had a particularly large lunch.
And surprise, surprise—despite the fear index staying comfortably at 55 (which is about as exciting as watching paint dry), everyone is nervously glancing around. So, what on earth has triggered this mini-market meltdown?
Whale Activity: Not the Cute Kind
It appears the real excitement comes from the whales. Not the adorable kind that sing softly and splash around, but the monstrous investors holding more than 10,000 BTC—those big blubbery giants with a penchant for selling. Apparently, they’re in profit-taking mode, which means they’re cashing in their chips while the table’s still somewhat standing.
Willy Woo, a man whose job apparently involves watching crypto charts with the intensity of a caffeinated hawk, states that some whales bought Bitcoin as early as 2017—when a single BTC was roughly $0 to $700. Now, with Bitcoin reaching long-term high-ish heights, they’re selling off like it’s a clearance sale at the Digital Store of Fortune.
“Who are the fools selling now while institutions and sovereigns are busy throwing billions into BTC?”
His chart reveals that these giant whales (>10k BTC) have been quietly selling since 2017.
“They’re the real idiots!”
Most of those coins were grabbed between $0 and $700, then held onto for 8-16 years—because apparently patience is a lost art.
— Willy Woo (@woonomic) June 3, 2025
Joao Wedson from Alphractal chimed in with charts showing whales dumping their bags between $105,000 and $100,000. In cryptocurrency terms, that’s like watching a fireworks display while the fire department quietly sighs, “We could have been doing something productive.” The buy/sell ratio just turned negative, meaning more people are eager to hand over their coins than to get any in return—like Black Friday in reverse.
Bitcoin ETF Inflows: The Slow Motion Drama
Meanwhile, the Bitcoin ETF inflows—which are essentially institutional investors flicking through their digital wallets—have slowed to a crawl. Last week, these funds lost about $1 billion in value, and this week, another $267 million decided to go on vacation. The only bright spot was an $87 million inflow yesterday, powered by BlackRock’s heroic $284 million purchase, but it was like bringing a spoon to a sword fight.
Historically, when ETF inflows start to take a holiday, Bitcoin’s price tends to get a bit mopey. Gone are the days when daily inflows were a staggering $1.5 billion—those, my friend, are the halcyon days of market exuberance.
Altcoins: The Party Poopers
It’s not just Bitcoin feeling shy. Ethereum, the slightly prettier sibling, is squarely at $2,612, while Solana has decided to take a 2.6% nosedive to $152.5. XRP, Dogecoin, and Cardano—a veritable who’s who of the crypto crowd—have all lost between 3% and 5% in the last 24 hours, perhaps in protest or due to an over-caffeinated whale’s whim.
All in all, the crypto scene is cautiously tiptoeing through a minefield designed by overzealous whales and slowed ETF inflows, hoping nobody trips over the next big panic button. Or, at the very least, not the one that sets off a global crypto scare.
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2025-06-05 10:32