According to the latest research on the chain, the Bitcoin market has entered another important phase, led by the widening gap between trading and fishing.
Whale Positioning Is Very Different From Marketing
In a X post on May 16, crypto researcher Joao Wedson points out a clear difference between Bitcoin trading and whale operations. The content of this post is based on the statistics found in Bitcoin: Whale Vs Retail Delta metric. In other words, the metric measures the difference in trading behavior between large Bitcoin owners (whales) and retail traders. In addition, it helps to know if the smart money is becoming more or more, compared to the bias of the participants in the small Bitcoin market.
Bitcoin’s Whale vs Retail Delta has reached its lowest level since January 2024, around the ETF’s launch, when short-term pressure from whales appeared during a period of market optimism.
Now we see similar patterns.
A large number of people are… pic.twitter.com/ESSjxPd1ND
– Joao Wedson (@joao_wedson) May 16, 2026
According to Wedson, Bitcoin: Whale Vs Retail Delta is now the lowest since January 2024 – the same time that Bitcoin ETFs were launched in the United States. In particular, this period also saw a significant injection of selling pressure from Bitcoin holders. A market expert says that the same trends that happened in 2024 may appear again. According to the market volume, Bitcoin whales have started to reduce their exposure to risk as traders continue to buy Bitcoin, probably in the belief that the price floor has been set at $60,000.
Interestingly, whale activity often acts as a warning sign at times when the market is overexcited. Senior executives often manage their risks aggressively, especially after high-profile meetings. However, Mr. Wedson believes that this difference does not mean that price correction is imminent. In fact, it only refers to the uncertain growth of the Bitcoin market. If other factors – such as the demand for institutions and the entry of ETFs – should coincide with a market that has not yet been confirmed, the leading cryptocurrency in the world may face moderate pressure in the medium term.
Bitcoin Market Overview
At the time of writing, the price of Bitcoin is $78,188. According to research by CoinMarketCap, the first cryptocurrency fell by 1.01% from the previous day. Over the course of the week, Bitcoin is also currently down 3% of its value. ETF website SoSoValue reported that, as of May 15, US BTC Spot ETFs have generated $1 billion in weekly inflows. The figure marks the first negative weekly net in Q2, breaking a six-week streak. At press time, the Bitcoin ETF’s total assets are $104.29 billion, representing 6.58% of the market.
