Bitcoin Whales Still See BTC as Too Cheap to Sell, CryptoQuant Says
Cointelegraph reported the assessment in a post on X, citing PelinayPA’s analysis of Bitcoin market activity. The analyst said large Bitcoin holders still consider BTC too cheap to sell, while declining inflows to exchanges and limited selling pressure point to further upside.
Bitcoin Selling Pressure Remains Limited
The latest assessment centers on the behavior of large Bitcoin holders, commonly referred to as whales. According to PelinayPA, these investors have not shown significant profit-taking activity, despite Bitcoin’s market position.
A key indicator cited in the analysis is the decline in Bitcoin inflows to cryptocurrency exchanges. Exchange inflows are closely watched by market analysts because transfers to trading platforms can precede potential selling activity, although an exchange deposit does not necessarily mean that an asset will be sold.
PelinayPA’s assessment links the combination of declining inflows and limited selling pressure to continued upside potential. However, the analyst did not provide a specific price target or forecast in the information shared by Cointelegraph.
CryptoQuant Analyst Points to Whale Behavior
Whale activity is often monitored through blockchain data because large holders can have a substantial presence in Bitcoin’s on-chain activity. In this case, PelinayPA’s analysis focuses on whether these holders are moving BTC toward exchanges and realizing profits.
The conclusion presented by the CryptoQuant analyst is that whales remain reluctant to sell at current levels. The statement that Bitcoin is still considered “too cheap” by these holders represents the analyst’s interpretation of available on-chain data rather than an independently established valuation of the cryptocurrency.
The distinction is important because on-chain indicators can show transaction and wallet behavior but do not directly reveal every holder’s intentions. Transfers can have purposes other than selling, and the absence of exchange inflows does not guarantee that selling pressure will remain low.
Further Upside Remains an Analyst View
PelinayPA said the current combination of market indicators points to further upside for Bitcoin. That conclusion is a forward-looking assessment rather than a confirmed outcome.
The X post did not provide additional details on how long the decline in exchange inflows has lasted, the size of whale holdings involved or a specific threshold that would indicate a change in selling behavior.
For now, the data cited by CryptoQuant analyst PelinayPA points to two notable conditions: Bitcoin exchange inflows are declining and selling pressure remains limited. The analyst interprets those signals as evidence that whales are not yet taking significant profits because they continue to view BTC as undervalued at current levels.
writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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