Binance Whales Increase Selling Pressure as Bitcoin Falls Below $90,000
Bitcoin's price has turned bearish again after briefly rising to $94,000. Currently, it is below $90,000, reflecting a 1.8% decrease in the past 24 hours. Increased selling pressure from large holders on Binance is identified as a key factor in this decline.
Whales and Selling Pressure
- Large investors are offloading BTC as prices rise, limiting short-term upside potential.
- Whale to Binance flow reached a 3-month high at $7.3 billion over the last 30 days.
- On-chain data shows whales categorize as fish, sharks, and whales are actively selling during market rallies.
- High-value holders account for a significant portion of daily sell-side activity on Binance.
- While retail investors remain inactive, whales are capitalizing on rising prices to take profits.
Market Outlook
- Large holders continue to sell BTC, creating resistance levels that may constrain further upside.
- New accumulation from long-term investors or institutional buyers is needed to offset selling trends.
- Monitoring whale activity is essential for understanding market direction; their actions can influence short-term trends.
- If whale selling decreases and accumulation increases, Bitcoin could regain momentum; otherwise, downside pressure may persist.
