Bitcoin whales have been depositing their BTC into exchanges at a high rate, which could indicate that they are preparing to sell off their holdings. On-chain data shows that whale exchange deposits reached $275 million in a single day, with the majority of trades entering Binance twice. This behavior from large holders can significantly impact the market and is often seen as a bearish signal. Additionally, the number of net Bitcoin position changes has reached a one-month low, indicating that more holders are closing out their positions than opening new ones.
All Comments