Bitcoin didn’t just fall this week—it sent a signal. And traders are arguing over what it means.
As crypto markets slid sharply, a pair of high-profile sales lit up social media and reignited anxiety across the community. A Trump-backed crypto project quietly sold millions in Bitcoin. Hours later, Ethereum’s co-founder appeared to be cashing out millions of dollars’ worth of ETH.
Individually, the moves were small. Together, they landed at exactly the wrong moment.
Trump-Linked Project Dumps Bitcoin During the Slide
On-chain data shows that World Liberty Financial (WLFI)—a crypto project backed by the family of U.S. President Donald Trump—sold 73 WBTC, generating approximately $5.04 million.
The timing raised eyebrows. Bitcoin was already under pressure, at one point dropping more than 8% and falling below $60,000. For traders watching the tape, the sale felt less like routine housekeeping and more like a vote of no confidence—fair or not.
The optics were especially sensitive given Trump’s recent pro-crypto comments, where he declared:
“I’m a big crypto person. I’m the one that probably helped crypto more than anybody because I believe in it.”
He also framed crypto as a geopolitical necessity, warning that if the U.S. doesn’t embrace it, China will—much like artificial intelligence.
That rhetoric didn’t sit well with traders who saw a Trump-linked entity reducing Bitcoin exposure while prices were falling.
Vitalik’s ETH Sale Sparks Backlash
Almost simultaneously, attention shifted to Vitalik Buterin.
Crypto commentator Ted Pillows posted on X that Ethereum’s co-founder had sold roughly $6.7 million in ETH within a few hours, prompting a wave of critical replies.
“Somebody tell him to take a look at the ETH chart,” Pillows wrote.
Another user joked that the move made it seem like Buterin was “the only one not bullish on his own chain.”
“Yeah, timing feels kinda notable,” Pillows added.
While Buterin’s transfers have historically been linked to donations, grants, taxes, and ecosystem funding, the lack of immediate clarification left traders filling in the blanks—never a calming dynamic during a market downturn.
Are Insiders De-Risking?
Market veterans were quick to caution against jumping to conclusions. Wallet activity alone doesn’t equal a bearish thesis.
WLFI’s Bitcoin sale could simply reflect treasury management or liquidity needs. Buterin’s ETH movements have long followed non-speculative purposes. Still, with prices sliding and confidence fragile, the market reacted less to size—and more to symbolism.
To many traders, the narrative forming was uncomfortable: insiders and politically connected projects appear to be lightening up, while retail investors hesitate on the sidelines.
Mixed Signals From Trump’s Orbit
The confusion deepened when Thor Torrens, a technology entrepreneur who previously served as a Trump advisor, went public with a sharply bearish take on Bitcoin.
“Bitcoin is never going to $1,000,000 a coin,” Torrens wrote.
When asked why, he pointed to transparency:
“Public ledger. Too traceable now with AI, everyone will realize soon.”
The comment sparked immediate backlash, with critics noting that Bitcoin’s traceability has always been a core feature—not a new flaw.
Still, the contrast was striking: Trump praising crypto as a strategic necessity, while voices from his orbit openly doubt Bitcoin’s long-term upside.
The Chart Is Adding to the Fear
Beyond the headlines and heated X debates, technical analysts are watching something more concerning.
According to CCN analyst Victor Olanweraju, Bitcoin has now broken below a major long-term support level that had held for nearly three years.
“From a technical perspective, Bitcoin’s price has now broken below a key long-term support level,” he said.
Olanweraju compared the current structure to the 2022 bear market, when Bitcoin lost critical Fibonacci supports before plunging 70–75% from its cycle high.
“The current decline, while not yet as deep in percentage terms, is unfolding in a similar pattern,” he warned.
In a bearish scenario, Olanweraju said Bitcoin could slide toward $50,196.
Not All Hope Is Gone
Despite the ominous setup, he noted one important difference from 2022.
“On-chain fundamentals and realized price are much higher than in 2022,” Olanweraju said, suggesting downside could be more limited this time around.
That caveat is doing some heavy lifting for bulls trying to stay calm.
Why This Moment Feels Tense
Crypto markets are no strangers to fear. But this episode feels different because the anxiety isn’t just coming from price—it’s coming from who is selling and when.
Whether these moves prove to be routine or prescient, they’ve arrived at a moment when confidence is thin and technical support has cracked.
For now, traders are left with uneasy charts, loud optics, and one uncomfortable question hanging in the air:
Who knows something—and who’s just reacting too late?