Traditional finance is accelerating its entry into the crypto market. Charles Schwab has gradually enabled spot trading of BTC and ETH for approximately 39.8 million active brokerage accounts, with client assets totaling around $1.31 trillion as of the second quarter. Crypto assets are increasingly becoming part of standard investment offerings at traditional brokerages. But the short-term market dynamics are far from easy. According to real-time data, approximately $888 million in positions were liquidated across the network over the past 24 hours, with large-scale clears on both long and short sides. The BTC long/short ratio remains elevated, indicating that longs have not fully exited—meaning the market is still in a high-volatility battleground. Meanwhile, an anonymous whale has cumulatively sold 7,513 BTC—roughly $487 million—over the past three weeks. Notably, during these large sell-offs, BTC did not experience uncontrolled price declines, suggesting that spot demand still exists to absorb the supply. This is the most critical contradiction to watch: Traditional capital inflows are expanding, yet large holders continue to cash out. Additionally, today’s expiration of BTC/ETH options may further amplify short-term volatility. BTC is currently near a key options price zone around $63,500. Investors should monitor changes in hedging activity before and after expiration—but should not treat max pain as a guaranteed price target. Set alert levels: Above $64,000: Watch for sustained volume and confirmation that selling pressure is being absorbed. $63,000–$63,500: Key observation zone; a break below requires caution for further leveraged liquidations. Around $62,000: If a rapid pullback occurs, monitor whether spot buyers re-enter to absorb the sell-off. What truly matters now is not whether BTC will immediately rise after 39.8 million accounts enter—but rather: When traditional capital keeps expanding its entry points while whales continue selling, who is absorbing these tokens? Capital is flowing in; positions are being exchanged; the true directional choice between longs and shorts has yet to be determined. Risk disclaimer: The above is provided solely for market information and data analysis and does not constitute any investment advice.
39.8 million accounts enter the crypto market amid short-term liquidations and whale sell-offs
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Summary
Whale activity has intensified as 39.8 million accounts gain access to BTC and ETH trading through Charles Schwab. The firm now holds $1.31 trillion in client assets. Whale movements include a recent sale of 7,513 BTC, valued at $487 million. Despite this, BTC remains stable, indicating some market absorption. Short-term liquidations reached $888 million within 24 hours. The price is nearing $63,500, a key options strike level. Traders are monitoring for hedging activity ahead of expiration.
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