The price of the leading cryptocurrency has returned for the third time since October to the average purchase price of short-term whales, around $79,000-$80,000. This was reported by on-chain analyst known as MorenoDV.
Short-Term Whales Decide the Next Move
“If BTC can stabilize above this cohort’s cost basis, unrealized stress disappears & these whales may transition from defensive sellers into passive holders again, removing significant sell-side pressure from the market.” – By @MorenoDV_ pic.twitter.com/ipxXym3Hxr
— CryptoQuant.com (@cryptoquant_com) May 15, 2026
A group of large investors, who previously recorded unrealized losses, has reached the breakeven point. According to the expert’s observations, short-term whales tend to make emotional decisions and react more sharply to market changes than long-term holders. Their priorities are current profit indicators and risk management, rather than a deep belief in the asset.
The previous two similar tests in October 2025 and January 2026 ended in capitulation. At that time, the price briefly rose above the whales’ entry level, but after losing momentum, investors began to actively sell coins, locking in losses.
The situation has reached a critical point. If Bitcoin stabilizes above $80,000, large holders will shift from sellers to passive holders, easing market pressure. Otherwise, a new wave of sharp sales is expected.
At the time of writing, digital gold is trading at $80,470, up 1.3% over the past day.
Earlier in May, analysts at JPMorgan predicted further underperformance of Ethereum compared to Bitcoin.