Crypto Whale Raise Rp546 Billion, Bitcoin & Ethereum Weaken: Early Signal of Market Correction?

Jakarta, Pintu News – The cryptocurrency market is in turmoil again after one of the big whales, Machi Big Brother, closed all his long positions and secured a profit of more than $33.8 million . The move sparked fears of a major correction, especially amid the weak performance of Bitcoin (BTC) and Ethereum (ETH).

In the past two weeks, Bitcoin has failed to break through the psychological level of $120,000 (around Rp1.94 billion) despite two attempts. Meanwhile, Ethereum is nearing the $4,700 level, but technical indicators show signs of weakening momentum.

1. Bitcoin experiences double rejection at $120,000 level

Bitcoin is currently facing strong resistance at the $120,000 area, where the last two breakout attempts ended in failure. The double rejection pattern on the daily chart signals a potential weakening of the trend.

The low trading volume while trying to break this resistance indicates a lack of buying pressure. This fuels concerns that the market is losing steam, increasing the risk of a significant price drop.

Also Read: 10 Crypto Airdrop Telegram 2025: How to Claim Free Tokens from Telegram to DeFi

2. Technical Signals Indicate Potential Correction

Bitcoin’s narrowing price range indicates a potential sharp move in the near future. The position of the 26-day EMA and 50-day EMA getting closer to the current price could signal a reversal.

With buying interest weakening, analysts see the chances of a pullback growing. If this happens, the impact could extend to the entire cryptocurrency market, triggering a sell-off in various digital assets.

3. Ethereum Strengthens, but Momentum Begins to Fade

Ethereum managed to maintain its uptrend in recent weeks, approaching the price of $4,700. However, the Relative Strength Index (RSI) indicator is showing a bearish divergence, which is often an early sign of a correction.

In addition, the trading volume on the latest spike was lower than the previous rally. This suggests buyers’ enthusiasm is starting to wane, increasing the potential for price declines in the near term.

4. Greater Risk of Correction Due to Overbought Conditions

With their already high price positions, both Bitcoin and Ethereum are in a vulnerable zone if market sentiment changes. Overbought conditions make the market more sensitive to negative news or sell-offs from big players.

If Ethereum experiences a correction, the domino effect to other altcoins could exacerbate the overall crypto market weakness. This potential is even greater given the dominance of whales who are able to move prices significantly.

5. Whale Action Indicates Redistribution Phase

Machi Big Brother’s decision to close all long positions could be a sign of the market entering a redistribution phase. In this phase, whales usually sell amid retail investor euphoria, moving liquidity before prices turn down.

If Bitcoin continues to fail to break through resistance and Ethereum loses its momentum, retail investors will likely find it difficult to withstand the selling pressure left by this distribution action.

6. What Should Investors Look Out for?

Investors need to monitor Bitcoin’s key resistance level at $120,000 and nearby support to anticipate the direction of the next move. For Ethereum, the RSI indicator and trading volume could determine whether the uptrend continues or starts to reverse.

In addition to technical analysis, external factors such as regulatory news, global economic conditions, and stock market movements also affect crypto market sentiment. The combination of technical and fundamental pressures could trigger a sharper correction.

Conclusion

Big sell-offs by whales like Machi Big Brother are important signals that should not be ignored. With technical conditions showing weakness in Bitcoin and Ethereum, the risk of a market correction is increasingly real.

While it may not necessarily lead to a major crash, investors are advised to remain vigilant, pay attention to key technical levels, and have disciplined risk management. The crypto market is known to be highly volatile, and big moves can happen in a matter of hours.

Also Read: 7 Ethereum (ETH) Developments to Anticipate in 2025

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Maxwell Mutuma / CoinCentral. Crypto Market Crash Possible as Machi Big Brother Closes $33M in Profits. Accessed August 15, 2025.