In this new Cointelegraph in-depth video, we delve into the world of Bitcoin whales, the evolving market structure, and how to avoid the pitfalls they set for retail investors. For more than a decade, Bitcoin’s largest holders have acted as the unseen forces behind many of the market’s biggest surges and deepest crashes. These so-called whales have always held outsized influence, but their behavior throughout 2025 suggests that a major shift is underway that could fundamentally reshape how Bitcoin (BTC) behaves heading into 2026.

The turning point came on Oct. 10, a day many traders now view as the unofficial end of the most recent crypto bull market. While billions in retail positions were wiped out in minutes, one early Bitcoin whale walked away with roughly $200 million in profit. At the same time, large, long-inactive wallets suddenly sprang back to life, moving thousands of BTC for the first time in years. This raises a familiar but uncomfortable question: How much power do whales really have over Bitcoin’s price, and what can their behavior tell us about the next phase of the market?

Cointelegraph's latest video delves into these questions, using on-chain data and expert insights to examine both early “OG” whales and the newer class of institutional whales, including exchange-traded funds (ETFs) and publicly traded treasury companies. We explore why OG whales have been selling heavily this year, how institutions absorbed that supply, and why institutional demand now appears to be slowing.

Retail traders often misread whale activity, and these signals can lead to poor decisions. Understanding the dynamics between retail investors and whales is crucial for anyone looking to navigate the volatile waters of Bitcoin trading. The video breaks down the various types of whale activity, highlighting the differences in behavior between individual and institutional players. For instance, while OG whales might have historical ties to Bitcoin, newer institutional players often act based on market analytics and trends rather than a personal connection to the cryptocurrency.

One of the key points discussed is the psychological aspect of trading and how fear and greed can distort perceptions. Many retail traders tend to react impulsively to whale movements, fearing they’ll miss out on gains or get caught in a downturn. This emotional response often leads to buying high and selling low, which is the opposite of the ideal trading strategy. Instead, the video encourages a more analytical approach, urging traders to consider the long-term trends and the broader market context.

In addition, the video highlights the importance of on-chain data in understanding whale behavior. Tools that track wallet movements and transaction volumes can provide valuable insights into the intentions of these large holders. For example, if a significant number of coins are moved from a whale's wallet to an exchange, it might signal an impending sell-off. Conversely, if coins are moved to cold storage, it could indicate that whales are holding for the long term.

The discussion also touches on the impact of macroeconomic factors on Bitcoin prices. As institutional demand for Bitcoin grows, external economic conditions, such as inflation rates and regulatory changes, can significantly influence market behavior. Understanding these factors can help traders anticipate potential price movements and make more informed decisions.

The last segment of the video addresses common misconceptions about whale trading signals. Many retail investors tend to overanalyze short-term fluctuations, believing that every whale movement is a sign of an impending market crash or rally. This often leads to erratic trading behavior that ultimately harms their portfolios. Instead, the video advocates for a focus on long-term strategies, encouraging viewers to build a well-rounded investment strategy that accounts for both whale activity and broader market trends.

By being aware of the signals that truly matter and filtering out the noise, traders can position themselves to better weather the volatility that often accompanies the cryptocurrency market. In conclusion, understanding the role of Bitcoin whales is essential for any trader looking to navigate the complex landscape of cryptocurrency investing. By recognizing the factors that influence whale behavior and avoiding common pitfalls, retail investors can improve their chances of success in this fast-paced market. To get the full analysis, watch the complete video on the Cointelegraph YouTube channel.