This Isn't A 'Great Sign' For Bitcoin, Says Top Currency Trader: 'Whales Are Once Again....'

Influential trader Justin Bennett raised alarm over Bitcoin’s BTC/USD trajectory on Monday as whales increased their short exposure against retail investors.

What Happened: Bennett took to X, drawing attention to a bearish signal for the leading cryptocurrency.

He highlighted that the whale vs retail delta indicator, sourced from cryptocurrency analytics platform Hyblock, which had been trending sideways or slightly higher, was now trending lower.

“Translation: Whales are once again increasing their BTC short exposure vs. retail,” Bennett stated. “Not a great sign for Bitcoin.”

The whale vs retail delta indicator is used to spot large gaps between retail longs and whale longs. This indicator ranges from -100 to 100. Very high (or positive) values indicate that whales are having higher long exposure than retail and vice versa.

A dip could mean that whales are increasing their short exposure. Since they control large amounts of cryptocurrency, whales have a greater power to influence market movements than retail.

See Also: Tom Lee Predicts Bitcoin To Hit $250,000 By End Of 2025, $3M Long Term

Data from Coinglass corroborated these findings. About 54% of the whale accounts on Binance were long on the Apex Crypto as of this writing, down from 56% on May 31.

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Why It Matters: Bennett’s remarks come as Bitcoin took a sharp U-turn after surging past $106,000 overnight Monday.

U.S.-China trade disputes continued to weigh on market sentiment. China rejected President Donald Trump's allegations of violating the Geneva trade pact. 

Interestingly, Bitcoin continued to gain traction among institutional investors, with companies like Strategy Inc. MSTR and Japan-based Metaplanet significantly expanding their Bitcoin holdings.

Price Action:  At the time of writing, BTC was exchanging hands at $105,358.42, up 0.26% in the last 24 hours, according to data from Benzinga Pro. 

Photo Courtesy: Antonio Gravante On Shutterstock.com

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• Crypto Analyst Foresees Dogecoin Price Rebound As Whales Increase Holdings

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.