Motives remain unclear, but the timing is sparking warning signals amongst traders.
Analyst Victor Olanweraju says Bitcoin has broken major long-term support.
World Liberty Financial (WLFI), a crypto project backed by the family of U.S. President Donald Trump, sold roughly $5 million worth of Bitcoin (BTC).
Additionally, Ethereum co-founder Vitalik Buterin moved to sell about $7 million in Ethereum, according to blockchain tracking posts that quickly sparked backlash from traders.
The sales come as crypto markets remain under pressure after a sharp decline, deepening investor uncertainty.
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A user replied that the sale made it appear Buterin was “the only one not bullish on his own chain.”
“Yeah, timing feels kinda notable,” wrote Pillows.
The sales, while small relative to the total crypto market, fed into a growing narrative among traders that key insiders and politically linked projects may be de-risking while retail buyers hesitate to step in.
Why the Crypto Picture Is Not Clear
Market participants cautioned that wallet activity alone does not confirm a directional view.
In WLFI’s case, the sale could reflect treasury management, liquidity needs, or operational cash requirements, rather than a bearish call on Bitcoin.
For Buterin, transfers and sales have historically been tied to donations, grants, tax payments, and ecosystem funding — though the timing still drew scrutiny given Ethereum’s recent price weakness.
With neither WLFI nor Buterin publicly detailing the motivation behind the moves, the broader market has been left to speculate.
Trump Says He Helped Crypto — While Former Advisor Turns Bearish
Many online have called out WLFI’s Bitcoin sales as a sign of hypocrisy, after he publicly embraced crypto in recent remarks, stating on Monday:
“…I’m a big crypto person. I’m the one that probably helped crypto more than anybody because I believe in it.”
Trump also cast crypto as part of a broader geopolitical competition with Beijing, saying:
“If we don’t do it, then China is going to do it. Right? If we don’t do crypto, then China is going to do it. And it’s just like AI.”
But that bullish tone was clashed with skepticism voiced by Thor Torrens, a technology entrepreneur who previously worked as an advisor for Trump.
In a post on X this week, Torrens argued Bitcoin’s transparency would be the reason it never reaches a seven figure amount, writing:
“Public ledger. Too traceable now with AI, everyone will realize soon.”
His comments sparked immediate backlash online, with critics calling the argument flawed and noting Bitcoin’s traceability has always been a known feature of the network.
Bitcoin Price Outlook
While social media has focused on the optics of selling, technical analysts have pointed to more serious chart developments.
CCN analyst Victor Olanrewaju said Bitcoin has now broken below a major long-term threshold:
“From a technical perspective, Bitcoin’s price has now broken below a key long-term support level that had held for nearly three years.”
BTC/USD Weekly Chart | Credit: TradingView
He also drew comparisons to the 2022 bear market:
“When compared to the 2022 bear market, there are striking similarities. In 2022, BTC also lost major Fibonacci supports, followed by a sharp drawdown of roughly 70–75% from the cycle high.”
While the current decline is not as deep yet, he warned the pattern is developing in a familiar way:
“The current decline, while not yet as deep in percentage terms, is unfolding in a similar pattern.”
“Looking ahead, if Bitcoin continues to behave as it did in 2022, the next critical test lies significantly lower, around the 0.382 Fibonacci region and potentially closer to the prior cycle’s long-term cost basis zones.”
In that scenario, he said Bitcoin could slide toward “$50,196.”
Still, Olanrewaju noted one key difference versus prior bear phases:
“However, one key difference this time is that on-chain fundamentals and realized price are much higher than in 2022, which could limit downside compared to the last bear market.”
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
