Whale Sell-Offs Block Bitcoin’s Path to $150K, Says Trump’s Crypto Advisor

Whale Activity Creates Major Roadblock

David Bailey, CEO of Bitcoin Magazine and crypto advisor to former President Trump, believes two massive Bitcoin whales are the main reason the cryptocurrency has not yet reached his $150,000 price target.

According to Bailey, one whale has already completed a multibillion-dollar sell-off, while another is still liquidating holdings. He argues that once both whales finish, Bitcoin could rapidly surge past the $150,000 level.

Recent blockchain data shows:

• One whale sold about $2.7 billion worth of Bitcoin on August 24.
• Another has already offloaded around $4 billion in Bitcoin, with much of that capital moving into Ethereum since late August.

Bailey attributes the ongoing bearish pressure to these large transactions, calling them the main drag on Bitcoin’s momentum.

Market Dynamics Beyond the Whales

While whales remain a key short-term factor, broader structural trends are also shaping Bitcoin’s trajectory.

Nikolaos Panigirtzoglou, a strategist at JPMorgan, notes that corporate treasuries now control more than 6% of Bitcoin’s circulating supply. This institutional accumulation reduces volatility, making Bitcoin more appealing as a long-term store of value. However, it can also limit explosive upward swings that many retail investors hope for.

In other words, big corporate buyers may steady the ship, but they also make it harder for Bitcoin to rally as dramatically as it has in the past.

The Road Ahead for Bitcoin

For Bailey, the near-term picture is simple: Bitcoin won’t break out until the remaining whale finishes selling. Once that happens, he expects a swift and sharp push toward $150,000.

At the same time, the growing presence of public companies and ETFs in the Bitcoin market could mean that future rallies, while still strong, may be more gradual than the parabolic runs seen in earlier cycles.