Asia Morning Briefing: Bitcoin Holds Above $114K as Whales Absorb Supply and Shorts Rebalance
Bitcoin stabilized near $114K as whales absorbed supply from long-term holders while moderate short liquidations cleaned up over-leveraged bets.Summary
Bitcoin's recovery above $114,000 reflects a measured reset, as on-chain data shows about 62,000 BTC moved out of long-term inactive wallets since mid-October, marking the first notable decline in illiquid supply this cycle. However, large holders ("whales") have been accumulating this flow, contrasting with smaller holders who have been steady sellers. Derivatives markets show balanced leverage, with moderate short liquidations ($337 million out of $413 million total) cleaning up over-leveraged positions without causing a full short squeeze. This dynamic of easing illiquid supply, steady whale accumulation, and balanced leverage suggests Bitcoin will likely oscillate between $113K and $116K until a new catalyst emerges. Meanwhile, Ether climbed 6% to $4,186, and gold is projected by JPMorgan to reach $5,055 by late 2026, driven by expected Fed rate cuts and diversification demand.
(Source：CoinDesk)