The price of the first cryptocurrency has returned for the third time since October to the average purchase price of short-term whales, around $79,000 to $80,000. This was reported by on-chain analyst MorenoDV.
Short-Term Whales Decide the Next Move
— CryptoQuant.com (@cryptoquant_com) May 15, 2026
“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
A group of large investors, who previously recorded unrealized losses, has reached the break-even 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. For them, current profit metrics and risk management take precedence over deep faith 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 actively selling coins to lock in losses.
The situation has reached a critical point. If Bitcoin stabilizes above $80,000, large holders will shift from sellers to passive holders, alleviating market pressure. Otherwise, a new wave of sharp selling can be expected.
At the time of writing, digital gold is trading at $80,470, up 1.3% over the past day.
For reference, in May, JPMorgan analysts predicted further lagging of Ethereum behind Bitcoin.