NAIROBI (CoinChapter.com)— Cryptocurrencies, including Bitcoin (BTC), SUI, and Jupiter (JUP), registered contrasting movements this week. Bitcoin’s dip below $100,000 earlier in the week placed the spotlight on new whale cohorts. However, BTC has since rebounded, trading at $102,797.85, up 3.97% on the day. Meanwhile, SUI wrestled with sub-$4 levels amid a broader market slump, and Jupiter posted strong gains following a major token burn event.
Bitcoin dips below $100K as new whales dominate the market
Bitcoin (BTC) slipped below $100,000 on Monday, falling nearly 10% from its Jan. 20 all-time high of $109,558. It bottomed out at $97,777 before paring some losses. Institutional investors remain bullish, but many traders are watching for potential volatility linked to United States President Donald Trump’s directives to reduce inflation.
Axel Adler, an analyst at CryptoQuant, says that addresses with over 1,000 BTC and less than 155 days of holding now control more than 60% of total whale holdings. Adler notes that these new whales move aggressively during growth phases, while older whales often stick to long-term strategies.
Dormant wallets that originated between 2012 and 2017 also reactivated. Some moved hundreds of BTC worth tens of millions of dollars. Market analytics firm Santiment noted an increase in wallets holding 100 to 1,000 BTC, reaching 15,777. Santiment’s research points to growing optimism among these medium-sized investors, with many seeing 2025 as a pivotal year for BTC’s future.
SUI slips below $4 amid broader crypto market downturn
SUI, a Layer-1 blockchain by Mysten Labs, has rebounded above $3.90 after briefly dipping under $4. Its price has risen 6.93% in the past 24 hours, reaching $3.94 at press time. The crypto market remains in a soft slump, with the total market cap at $3.33 trillion and the Crypto Fear and Greed Index holding at 71.
DeFiLlama records 50 million accounts and a Total Value Locked of $1.59 billion. SUI ranks 16th by market cap, but chart patterns suggest growing pressure.
SUI has formed a descending channel after failing at higher Fibonacci levels near $4.88. Its RSI hovers around 38, hinting at weakening momentum. The accumulation/distribution metric stands at 3.09 billion, reflecting continued on-chain participation.
A successful retest could send SUI back toward $5 territory. However, a failure to reclaim $4 might accelerate downside risk, especially with a scheduled unlock of 2% of SUI’s total supply in Feb. That additional supply could weigh on price unless buyers regain confidence after the recent correction.
Jupiter (JUP) builds momentum on token burn and new liquidity
Jupiter (JUP) has surged to $1.20, posting a 26.17% gain over the past 24 hours. The recent buyback initiative and three-billion-token burn from its Catstanbul event helped fuel bullish sentiment, with open interest jumping from $173.91 million to $336.58 million, according to Coinglass data.
On-chain data from DeFiLlama shows JUP’s trading volume grew from $415.02 million on Friday to $1.69 billion on Monday. Its Total Value Locked reached $2.92 billion last week, a record high.
Technical indicators align with JUP’s uptrend; the pair broke above the middle Bollinger Band near $1.15, suggesting strong momentum. The daily Relative Strength Index reads 65, signaling robust buyer activity, though an overbought zone could spark a short-term retracement.
If bulls maintain momentum, JUP might aim for the Dec. 5 high of $1.44. The token’s Relative Strength Index sits at 67, suggesting buyers remain in control, although traders will watch for overbought conditions that can trigger a short-term pullback.
