Bitcoin Price Rebounds to $109,693 Amid Positive Whale Activity
Bitcoin's price has rebounded to $109,693, a 0.4% increase over the past 24 hours, though it's 2% below its all-time high of over $111,000 from last month. This recovery is supported by positive on-chain signals from large holders.
Bitcoin Whale Behavior Suggests Further Upside
Analysis shows that whales are not taking profits despite Bitcoin nearing record levels. Key points include:
- Whales are avoiding mass selloffs, indicating expectations for continued price growth.
- Large holders may wait for higher valuations before selling, typical in late bull markets.
Whale Exchange Activity Indicates Similar Move
Another analysis highlights trends in Binance whale behavior:
- Historical data shows increased exchange inflows at market peaks, driven by profit-taking.
- Current inflows are around $3 billion, declining, suggesting whales prefer holding over selling.
This reduced activity indicates whales anticipate higher prices ahead, positioning themselves for potentially greater returns later in the cycle. Their strategies significantly impact market liquidity and price action.
