Giant Whales turned bearish for the first time since June. Can the BTC rebound hold the 80,000 mark?

According to Woofun AI, on October 27, the cryptocurrency market showed a divided trend after experiencing early trading fluctuations. Although Bitcoin (BTC) achieved a technical rebound, giant whale investors showed a clear bearish attitude for the first time since June. This core contradiction has become the focus of the current market game.

Judging from the specific price performance, mainstream currencies all recorded varying degrees of increase in same-day trading. Bitcoin (BTC) rose 0.83% to close at $80,676.04, with a 24-hour increase of 1.09%; Ethereum (ETH) was stronger, up 1.08%, closing at $2,345.46, or 1.60% in 24 hours; and Solana (SOL) rose 0.40% to close at $101.16, or 0.84% in 24 hours.

Notably, Bitcoin once fell below the key psychological barrier of $80,000 on the morning of the same day, but successfully stabilized and rebounded slightly during the latter half of the US trading session, distancing itself from this support level again. Institutional views are markedly divided in this context. On the one hand, Galaxy Digital (GLXY.US, up 9.57%) released a report stating that Bitcoin may be in the fund-raising phase and asserted that the bear market has basically ended, suggesting that the bottom of the market is forming. On the other hand, data from digital asset analysis platform Glassnode revealed a very different financial behavior: giant whale accounts holding Bitcoin on the Hyperliquid (HYPE, 4.96% increase) platform turned net shorting for the first time since rebounding from a low in June.

Data compiled by Woofun AI shows that this reversal in the risk appetite of leading capital is in stark contrast to the short-term rebound in mainstream currency prices, indicating that there is a serious rift in the market's judgment on subsequent trends. Although Galaxy Digital (GLXY.US) is optimistic about the long-term outlook, giant whale's shorting action suggests that the risk of short-term selling pressure has not been completely eliminated, and the market is still in a sensitive period of intense long and short game.

In terms of linking capital flows to traditional markets, the performance of cryptocurrency ETFs provides another dimension of observation. iShares Bitcoin Trust ETF (IBIT.US) rose 1.06%, Fidelity Wise Origin Bitcoin Fund (FBTC.US) rose 1.08%, and iShares Ethereum Trust ETF (ETHA.US) rose 1.32%. After several consecutive days of capital outflows, if these ETFs can maintain positive capital inflows, it will be an important sign of a recovery in investor confidence and may also indicate market stability.

Meanwhile, fluctuations in traditional stock markets have had a certain impact on the crypto market. The S&P 500 index (SPY.US) rose 0.60%, while the Nasdaq index (QQQ.US) fell 0.34%. Despite mixed overall stock market performance, the cryptocurrency market rebounded today after yesterday's weakness, which is seen as a positive sign.

However, the stock prices of many altcoins are still sluggish, close to important support levels, and the overall market still needs further restoration. From a technical perspective, if Bitcoin remains around $80,000, it will benefit the bulls and may push the price back towards the $85,000 range; however, to establish a new round of rebound, Bitcoin needs to remain stable above $87,000, which will be a key sign that the bulls have regained control.

As of October 27, 2026 at 20:17 UTC, the top ten cryptocurrencies performed as follows: Tether (USDT) price of $0.9988, 24-hour increase 0.0%, 7-day increase -0.0%; Binance Coin (BNB) price of $747.76, 24-hour increase 0.8%, 7-day increase 1.5%; Ripple (XRP) price of $1.32, 24-hour increase 2.3%, 7-day increase -0.0%; USDC Price $0.9994, 24-hour increase 0.0%, 7-day increase -0.0%; Wavefield (TRX) price $0.3302, 24-hour increase 0.1%, 7-day increase -0.3%; Figure Heloc (FIGR_HELOC) price $1.02, 24-hour decrease 2.0%, 7-day decrease 3.2%; Zcash (ZEC) showed outstanding performance, price $1,298.00, 24-hour increase 6.0%, 7-day increase 7.7%

This data distribution shows that stablecoins have remained stable, while some public chain tokens and privacy coins have diverged. The bearish turn of giant whales coexists with a rebound in mainstream currency prices, which suggests that the market is at a critical point in choosing the direction. If subsequent ETF funds do not continue to flow in, or if the traditional stock market experiences greater volatility, the risk of Bitcoin falling below $80,000 will increase significantly, and the reverse could start a recovery towards $85,000 or even $87,000. This is the first time since the June low that there has been such a clear divergence between leading capital and price trends in the market, and it is worth being highly wary of investors.