Smart Money Just Flipped Bullish on Bitcoin

The answer, according to on-chain data shared by analyst Joao Wedson, may lie in a growing divergence between whale activity and leveraged trader positioning.

Bitcoin is back above $110k, what’s up with that?

— Peter Schiff (@PeterSchiff) June 9, 2025

Whales Buying, Retail Missing the Mark

As shown in charts from Alphractal, BTC’s recent climb is being driven by positive whale position sentiment, which remains elevated even as leveraged traders appear to be positioned on the wrong side of the move. While retail sentiment and short-term trades reflect skepticism or misalignment, whales are quietly accumulating—often a sign of confidence in a continued uptrend.

“Track where smart money is going. Follow what the market makers are doing,” Wedson advised, warning against emotional, news-driven trades that generate noise instead of results. 
Smart Money Moves, Traders Lag Behind

The dual-panel chart breaks down:

Left side: Whale Position Sentiment — showing a rising trend that correlates closely with BTC price increases. Right side: Leveraged Trader Sentiment — revealing inconsistent positioning, with traders often fading the rally.

This setup suggests a classic liquidity trap, where retail is late to the shift, while institutional players accumulate ahead of the crowd. The price action reflects what Wedson describes as a battle between smart capital and emotional trading.

What’s Next

With whales stacking BTC and traders misaligned, the current structure suggests continued bullish momentum. Bitcoin’s surge above $110K could be just the beginning—especially if leveraged short positions begin to unwind.

For now, the smart money is buying. The rest? Just noise.

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