Whale Effect: Bitcoin's Rise and Critical Moves in Altcoins

Recent market developments indicate that there will be significant changes in the cryptocurrency market. The Fed’s 25 basis point interest rate cut and economic projections for 2025 caused fluctuations in the Bitcoin (BTC) and altcoin markets. After Bitcoin broke the $102,000 consolidation level, whale activity increased, which had different effects on altcoins.

According to Santiment data, whales last week collected 36.65 million Ethena (ENA)$ENA

and has accumulated 40 million Arbitrum (ARB) tokens. While the ENA price is rising, the ARB price is showing bearish trends. ENA is struggling to hold the critical support levels between $0.79 and $0.83. However, the supertrend and MACD indicators are giving bearish signals, indicating that the price could decline further.

On the other hand, Polygon (POL)$POL

whales have attracted attention with heavy selling. In the last 48 hours, wallets holding 10 million to 100 million tokens have sold more than 80 million POL in total. These sales increase the risk of a short-term decline in the POL price. Currently, POL is trading at critical levels between $0.49 and $0.51, but if there is a breakout of the head and shoulders formation, the price is expected to fall below $0.45. Bearish signals from RSI and negative crossovers in Ichimoku clouds support this scenario.

Whale movements continue to have a major impact on the direction of the crypto market. Bitcoin’s uptrend is causing accumulation in some altcoins while increasing selling pressure in others. While whale accumulations are notable in projects like Ethena and Arbitrum, heavy sales in large-volume projects like Polygon are causing uncertainty in the market.

With the rise of Bitcoin, different effects are observed on altcoins. ENA and ARB$ARB

While intense efforts are being made to maintain support levels in projects such as, altcoins such as POL face the risk of decline. In this volatile period, it is of great importance for investors to shape their strategies by paying attention to both technical indicators and whale movements.