David Bailey Says Bitcoin Needs to Slay ‘Two Massive Whales’
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Bitcoin Whale
David Bailey says Bitcoin needs to slay two massive whales before hitting $150K as mystery holders execute $2.7B and $4B liquidations suppressing price momentum.
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Anas Hassan
Crypto Journalist
Anas Hassan
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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
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Bitcoin CEO and Trump crypto policy adviser David Bailey claims two massive whales are preventing Bitcoin from reaching $150,000, with one down and another halfway eliminated.
The cryptic reference points to large-scale Bitcoin holders who executed multi-billion-dollar sales, creating downward pressure that has kept prices below Bailey’s ambitious target, despite the momentum of institutional adoption.
Bailey responded to community speculation by confirming the whales operated at specific price levels, with “one for 80k bitcoin and the other for 120k bitcoin.”
Market analysis suggests one whale executed approximately $2.7 billion in BTC sales on August 24, while another early investor rotated roughly $4 billion worth of Bitcoin into Ethereum since late August.
Mystery Whales Execute Massive Bitcoin Liquidations.
Speculation centers on two anonymous large-scale Bitcoin holders whose selling activity has suppressed price momentum throughout the current cycle.
The first whale reportedly completed massive liquidations worth $2.7 billion in a single day, while the second continues rotating substantial Bitcoin positions into alternative cryptocurrencies.
Bailey previously declared Bitcoin would experience no bear market for several years, citing massive institutional adoption from sovereigns, banks, insurers, corporations, and pension funds.
His no-bear-market thesis contradicted traditional four-year cycle analysis, arguing the market hadn’t captured even 0.01% of its total addressable market.
Corporate Bitcoin holdings have surged to over $400 billion across nearly 312 entities, with public companies accounting for over 50% of institutional reserves.
MicroStrategy leads with over 632,457 BTC, followed by MARA Holdings with more than 50,639 BTC; yet, Bitcoin struggled to stay above its $124,000 all-time high reached on August 13.
The whale selling pressure coincided with technical deterioration, including bearish divergences across multiple timeframes and a double-top pattern with a neckline around $112,000.
On Aug 29, Bitcoin broke below the key $110,000 support zone, extending drawdowns over 13% from peak levels and raising concerns about deeper corrections.
Early Bitcoin holders began rotating assets into Ethereum positions, with one whale moving 400 BTC, worth approximately $45.5 million, into leveraged ETH positions.
Another holder sold 24,000 BTC within hours, contributing to institutional portfolio rebalancing away from Bitcoin concentration.
Bitcoin Faces Technical Breakdown Amid Institutional Rotation.
Bitcoin closed August at $109,000, marking a 6% monthly decline during what historically represents the cryptocurrency’s weakest-performing period.
September typically delivers average losses of 3.77% during bull market years, earning the nickname “Rektember” among traders facing additional seasonal headwinds.
US spot Bitcoin ETFs recorded their first weekly outflows since June, with...
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