News 
February 26, 2025 
4 min. 
Bitcoin has plunged to its lowest level in three months, dropping to around $86,000 on Feb. 25. As bearish sentiment grips the market, data suggests further downside may be ahead. However, while many traders panic sell, Bitcoin whales are quietly accumulating, signaling potential long-term confidence in the asset.
BTC Breaks Key Support, Eyes Lower Levels
After weeks of defending key levels, Bitcoin’s market structure finally gave way, resulting in a sharp decline. The cryptocurrency is currently down about 10% for the week, marking its biggest quarterly drop—approximately 20%—since August 2024, according to Bitcoin researcher Axel Adler Jr. This decline is twice the average Bitcoin drawdown of 8.9% over the past year.
Short-term holders (STH), those who have held BTC for less than 155 days, have been hit particularly hard. In the past 24 hours alone, these investors moved 27,500 BTC at a loss, contributing to the ongoing selling pressure. Adding to the bearish outlook, Bitcoin’s daily close below $92,000 on Feb. 24 confirmed a long-forming double-top pattern, which could trigger a further 16% decline, bringing BTC’s next target into the $78,000–$76,000 range.
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Whales Accumulate as BTC Approaches Critical Support
While there’s panic sentiment among short-term traders, Bitcoin whales seem to be doing the opposite. Data from CryptoQuant showed that on February 24, 2024, there was a movement of 26,430 BTC into tracked addresses usually associated with over-the-counter deals and long-term holding. The sudden movement of bitcoin suggests that major investors are more focused on taking advantage of the dip rather than panicking.
Between $81,700 and $85,100, there has remained an unfilled liquidity gap since November 11, 2024. Crypto trader CRG also highlighted the significant spot bid cluster on Binance, which adds more strength to the theory that bitcoin would find support in that.{region. 81,700} If this remains true, it may very well be the most ideal spot for demand to pick up.
BTC’s primary concern in the $81,000 mark. Shall that support level fail to be held, the next zone would lie between the CME gap of $77,000 and $80,000. A drop to $77,000 would also successfully fulfill the decline of the double top pattern in price. This level would also align with lower boundary of the macro bullish orderblock.
The next few days are important. With whales already accumulating and BTC hitting key technical levels, this may be the support that BTC needs to stop it’s current downward trend.
