Bitcoin slips 0.4% amid heightened whale movements and shifting ETF trends, underscoring ongoing market unpredictability

Whale Activity Surges with 20x Short Position on Hyperliquid

On November 24, 2025, the blockchain analytics platform CoinBobAI_bot highlighted notable moves by a prominent

whale identified as 0x5D2. This investor has held a 20x leveraged short bet on since May 9, with the current position valued near $106 million. The trade has an unrealized gain of $29.78 million, and since October 11, the whale has locked in profits by closing 40% of the position, realizing $5.17 million. Recently, the whale lowered their take-profit target from $89,000 to $67,000, signaling a pessimistic view on BTC. The liquidation threshold for this trade has dropped from $105,700 to $92,000 over the past ten days, putting 5.75% of the position at risk of liquidation. This adjustment highlights the whale’s strong conviction in further downside for Bitcoin’s price.

Institutional Flows Return as ETF Investments Pick Up

While the whale maintains a bearish approach, large institutions are rebuilding their Bitcoin exposure via ETFs. On November 21, Bitcoin ETFs saw net inflows of $238.4 million, reversing a trend of recent outflows. BlackRock’s

(IBIT) attracted $60.6 million in new investments, despite a $523 million outflow the day before. These inflows point to renewed institutional interest in Bitcoin, even amid ongoing price swings. Many long-term investors are positioning themselves for a rebound, with average entry points above $90,000—levels that remain profitable despite the latest downturn.

CEX Outflows Signal Investors Turning to Safety

According to CoinGlass data from November 24, centralized exchanges experienced a net withdrawal of 29,194.49 BTC over the last week. Bitmex saw the largest outflow at 32,226.13 BTC, followed by Coinbase Pro with 25,792.54 BTC, and Gemini with 2,714.25 BTC. In contrast, Binance recorded an inflow of 16,353.35 BTC. These shifts suggest that more investors are moving their assets to cold storage or private wallets as a precaution during turbulent periods. This trend underscores a growing inclination to secure assets offline, especially as macroeconomic and regulatory uncertainties continue to influence market sentiment.

Volatility and Key Support Levels in Focus

As of November 24, Bitcoin was trading at $87,098.09, up 0.4% over the previous day. However, the price has dropped 4.83% in the last week, 20.5% over the past month, and 6.88% year-over-year. The recent slide has triggered over $911 million in liquidations, impacting around 230,000 traders. Critical support at $85,000 is now being tested, and a failure to hold above this mark could lead to a further drop toward $82,000. On the other hand, a move above $87,500 could restore bullish sentiment and boost investor optimism.

Analysts See Ongoing Institutional Interest Despite Uncertainty

Market analysts observe that the current landscape is shaped by both bearish whale strategies and institutional accumulation via ETFs. Although short-term volatility is a concern, Bitcoin’s underlying fundamentals—such as its limited supply and increasing institutional adoption—continue to draw investment. Should macroeconomic conditions improve and interest rate cuts occur, analysts expect renewed inflows into Bitcoin ETFs, which could push prices back toward $95,000 by early 2026. Nevertheless, investors remain vigilant as regulatory and economic factors continue to drive market dynamics.