Whales Active, But Bearish Trend Not Broken Yet
Since early June, market activity has been dominated by whales. Typically, such large-scale accumulation is a positive signal the market anticipates. However, this time is different; whale buying hasn't been strong enough to reverse the trend. Bitcoin has already dropped over 15% this month, making it one of the most significant monthly declines this year.
Low Transaction Volume, Market in Wait-and-See Mode
Overall market activity remains low. Without a clear bullish sentiment shift from whales, Bitcoin will likely continue to trade sideways and face downward pressure in the near term.
What About Other Altcoins?
Ethereum has been dragged down by the broader market correction, with its price falling to the $1,655 range, down approximately 6-8% in the last 24 hours, as the US dollar strengthens to multi-month highs, pressuring risk assets overall. Amidst this weakness, a positive long-term signal has emerged: several of the largest ETH holders, including Tom Lee and Joe Lubin, have just formed an independent research institution called Ethlabs to drive institutional adoption of Ethereum, indicating that long-term confidence remains strong despite price pressure.
Solana weakened to the $69-72 range, recording a daily decline of approximately 5-6%, with its RSI in the neutral zone, indicating no clear dominance from either buyers or sellers. Amidst this weakness, a capital rotation out of Solana worth $22.7 million occurred as investors shifted liquidity to other stablecoins, yet the key support level in the $70s range was still successfully defended by some traders who view it as a potential accumulation area.
HYPE saw a sharp correction, dropping about 6% in 24 hours and over 13% from its all-time high of $76.85, which was just reached last week (June 16, 2026), due to massive post-rally profit-taking. Despite the price weakness, the platform's fundamentals are strengthening: trading volume is up over 32%, the newly launched HYPE ETF in May 2026 successfully attracted over $172 million in fresh capital, and the buyback mechanism from trading fees (over $1 billion annually) continues to reduce the circulating token supply.
What Does This Mean for Investors?
This situation serves as an important reminder: whale buying doesn't always immediately signal a trend reversal (reversal). The market still requires additional confirmation — either from higher transaction volumes or a broader sentiment shift — before the bearish trend can be considered truly over. The same pattern is also visible in ETH, SOL, and HYPE: short-term selling pressure doesn't necessarily reflect weak long-term fundamentals for each project.
For Mobee users who want to monitor these movements in real-time, you can check the prices of BTC, ETH, SOL, and HYPE directly through the Mobee app and adjust your investment strategy according to your individual risk tolerance, either via the Spot Trading feature for quick execution or Auto Invest if you prefer a dollar-cost averaging strategy amidst such volatility.
Disclaimer: This content is a market news summary for informational purposes only, not investment advice or recommendation. Trading crypto assets carries high risk; conduct your own research before making any decisions.
