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Bitcoin Updates: Crypto Market Swings Intensify Amid Whale Sell-Offs, Quantum Security Concerns, and Growing ETF Presence

Bitcoin Updates: Crypto Market Swings Intensify Amid Whale Sell-Offs, Quantum Security Concerns, and Growing ETF Presence

Bitget-RWA2025/11/23 13:52
By:Bitget-RWA

- Bitcoin whale Owen Gunden liquidated his 14-year 11,000 BTC portfolio ($1.3B) in tranches to avoid market slippage, signaling bearish sentiment amid crypto's volatile weekend. - 21Shares launched the 2X Long Dogecoin ETF (TXXD) on Nasdaq, marking institutional adoption of meme coins despite DOGE's 19% 30-day price drop. - Quantum computing risks resurfaced after Ray Dalio's comments, sparking debate over SHA-256 vulnerabilities and exacerbating retail investor panic. - Peter Schiff challenged MicroStrate

The cryptocurrency sector saw significant upheaval over the weekend, highlighted by the full liquidation of one of Bitcoin’s earliest large holders, the introduction of a leveraged

ETF, and renewed anxiety about the risks posed by quantum computing. These events emphasized the market’s persistent instability and changing investor attitudes.

Owen Gunden, a veteran

whale who had maintained a holding of 11,000 since 2011, over the last month, moving the final $230 million in Bitcoin to Kraken on November 20, 2025. Blockchain analytics company Intelligence tracked the step-by-step liquidation, noting that Gunden sold his coins in portions , with over $616 million offloaded in mid-November alone. This sale concluded a 14-year investment journey for Gunden, making him one of the few to endure several crypto cycles before exiting.

Bitcoin Updates: Crypto Market Swings Intensify Amid Whale Sell-Offs, Quantum Security Concerns, and Growing ETF Presence image 0

The market managed to absorb the $1.3 billion in sales without major disruption, though experts pointed out that it added strain to an already delicate environment. Bitcoin (BTC)

, intensifying a wider wave of selling prompted by profit-taking and broader economic worries.

During this period of instability,

(TXXD) on Nasdaq, giving investors access to twice the daily returns of Dogecoin (DOGE). Developed in collaboration with the House of and FalconX, this product represents a major move toward institutionalizing meme coins. and is aimed at short-term traders, reflecting the rising interest in altcoin investment vehicles as Bitcoin ETFs experience withdrawals.

The ETF’s introduction comes amid a surge in altcoin fund launches, such as those for

and , as market participants look to diversify. Even with DOGE falling 19% over the past month, (including Tesla and AMC) make it stand out as a distinctive asset.

Bitcoin’s drop to $86,767 was also driven by renewed concerns that quantum computing could compromise SHA-256 encryption,

. Some, like financial analyst Mel Mattison, argued these worries are exaggerated, pointing out that traditional banks using RSA encryption face similar threats. The discussion revealed sharply different perspectives on long-term technology risks, with Dalio’s comments .

Gold proponent Peter Schiff accused MicroStrategy’s Michael Saylor of operating a “fraudulent” Bitcoin business model dependent on issuing debt. Schiff invited Saylor to debate at Binance Blockchain Week in Dubai, claiming that MicroStrategy’s net asset value multiple (mNAV) of 1.21 exposes weaknesses

. At the same time, for Q3 2025, thanks to Bitcoin’s price increase, though its stock price has dropped more than 50% since July.

The resilience of the crypto market will be put to the test in the coming weeks. While institutional investors poured $75 million into U.S. Bitcoin ETFs in a single day,

point to an uncertain outlook. The combined effects of major whale sales, quantum-related fears, and regulatory shifts will likely determine whether Bitcoin finds stability or continues to decline.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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