The David Lin Report Why Bitcoin Whales Are Dumping And How Long Will It Last? | Bart Smith
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Nov 26, 2025 Bart Smith, CEO of Avalanche Treasury Company and a former institutional trader, dives deep into the recent 30% Bitcoin drop. He emphasizes whale selling and market pressure, exploring the long-term effects of crypto concentration. Bart discusses how treasury companies can provide permanent capital, and he highlights Avalanche's role in tokenization and DeFi. He also touches on stablecoins' potential to reshape banking, retail adoption challenges, and the macro factors that could push crypto to new highs in 2026.
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Whale Selling Caused Recent Bitcoin Pullback
- Long-dormant Bitcoin whales selling into ETFs and treasury options created significant downside pressure and trimmed Bitcoin ~30% from highs.
- Bart Smith views this deleveraging as natural diversification that ultimately strengthens Bitcoin's investor base.
Snapshot Price Comparisons Can Mislead
- Short-term snapshots can mislead: crypto underperformance versus stocks this year is a moment, not a structural verdict.
- Bart expects regulatory and macro developments to set up a strong Q1 rally into next year.
AI Bubble Risk Could Reprice Crypto Too
- A bursting AI/equity bubble would likely hit all tech-linked assets, including many L1s and crypto projects.
- Bitcoin might outperform in that scenario but full uncorrelation is unlikely, says Bart Smith.