Analyst Mignolet Reveals: Bitcoin's Recent Selling Pressure Traces Back to US Whale Addresses

DeFi_Dad_Jokes · 2026-02-07T19:07:27+00:00

Bitcoin is currently facing selling pressure driven by major US whale addresses, as identified by analyst Mignolet. This activity is not linked to institutional flows via ETFs but rather from independent whale operations, indicating sophisticated market moves that align with historical patterns.

DeFi_Dad_Jokes

2026-02-07 19:07:27

Abstract generation in progress

Recent market movements show Bitcoin facing notable selling pressure, and according to insights from CryptoQuant analyst Mignolet, the origins of this downward force lie deeper than surface-level trading activity. Currently trading around $69.57K with a -0.61% 24-hour decline, Bitcoin’s recent weakness isn’t simply a matter of typical market fluctuations.

The CPG Signal: Whale-Driven Selling Activity

Mignolet has identified a significant Premium Gap (CPG) selling signal emerging on the market during recent trading sessions. This indicator reveals concentrated selling activity from major US whale addresses. What makes this observation particularly relevant is the timing—the Bitcoin ETF market was not operational during the period when this selling premium appeared.

Understanding the Source: Non-ETF Whale Operations

The critical distinction Mignolet emphasizes is that the selling pressure did not originate from institutional flows through Bitcoin ETFs. Instead, the downward momentum came directly from independent whale operations—large address holders who move capital outside the regulated ETF framework. This differentiation matters significantly because it tells us the pressure comes from sophisticated market participants making deliberate moves parallel to the official ETF channels.

Traditional Whale Selling Patterns in Action

What Mignolet has identified represents one of the market’s conventional selling mechanisms. Whale addresses have historically used such CPG premium signals to coordinate large exits, and the recent activity follows these time-tested patterns. Understanding these traditional whale behaviors helps market observers anticipate potential price movements based on on-chain activity rather than relying solely on price action.

BTC-0,88%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.