Bitcoin Retail Investors Transfer 6,000 BTC Valued at $625 Million to Binance
Bitcoin Retail Investor Activity
- Retail investors transferred 6,000 BTC to Binance in January, valued at approximately $625 million.
- Bitcoin's price is currently $104,350.17, following a 0.85% dip in 24 hours.
- Whale inflows to Binance are around 1,000 BTC this month, totaling $104 million.
- Whales are engaging in modest profit-taking while retail investors appear to anticipate a market downturn.
Market Interest and Trends
- Mainstream interest in Bitcoin has reset after recent all-time highs in 2024.
- Google Trends data indicates cyclical phases of retail interest, with phase 3 concluding after the ATH move.
- Analyst CryptoCon suggests the Relative Strength Index (RSI) shows a full reset, initiating phase 4.
Price Outlook
- Bitcoin has encountered resistance at $104,250, failing to break towards its previous ATH of over $109,000.
- Analysts view the current consolidation as temporary, with expectations for a new ATH in February.
- Michaël van de Poppe indicates potential breakout within one to two weeks, targeting future prices of $112,375 and $116,085.