Bitcoin Under Pressure: Whales Retreat, Retail Holds Is a Bull Trap Forming?

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Bitcoin continues to show signs of weakness. Late Tuesday, BTC dropped to around 72,945 as selling pressure intensified. While large investors whales reduced their long positions and opened shorts, retail traders stayed optimistic. This growing gap in behavior suggests rising uncertainty, with whales positioning for volatility rather than betting on a clear rebound.
According to market data, whales are pulling back their exposure, a move often seen before consolidation or deeper corrections. At the same time, funding rates remain slightly positive, meaning longs still hold a small advantage. However, rising short volume and strong sell pressure hint that bearish sentiment remains active. Analysts warn this setup could lead to a classic bull trap, catching late buyers off guard.
Spot market signals add to the caution. Demand from U.S. investors is weakening, institutional interest is fading, and trading volume keeps shrinking. Since October 2025, hundreds of billions in volume have left the market, while stablecoin liquidity has fallen by 10B. Until fresh capital returns, Bitcoin may struggle to build sustainable upside momentum.