Following a brief rebound to $93,000 after hitting lows of $80,000, Bitcoin’s price has once again fluctuated around the $90,000 mark. This volatility highlights ongoing selling pressure in the market, as evidenced by technical indicators showing Bitcoin trading below its moving averages. A recent on-chain analysis points to panic selling from large investors (whales), leading to significant losses and a shift in market dynamics. 500 BTC worth $45.37 million were sold recently, resulting in a loss exceeding $10.5 million for the whale who originally purchased at around $111,899 each – a price that was nearly double what they currently sell for. Other investors have also experienced losses, but mega whales are capitalizing on the downturn to increase their holdings. 100,000+ BTC were accumulated in three consecutive days by these large players, demonstrating a belief in undervalued prices and potential long-term growth. However, while some short-term investors (STH) have realized losses of over 10,200 BTC, long-term investors (LTH) continue to hold on for the long haul. This trend highlights that market downturns are creating new opportunities for both panic selling and strategic buying.