Bitcoin Maintains $112,000 Support as Binance Whale Activity Declines

Bitcoin (BTC) is maintaining the $112,000 support level amid low price volatility. Recent data from Binance indicates a decrease in whale activity, which has likely prevented a significant sell-off.

Key Points

Whale activity on Binance peaked on September 7 with a BTC: Exchange Whale Ratio of 0.55 but dropped to 0.28 by September 8.
The price stabilized around $112,500, indicating temporary whale movements did not trigger a sell-off.
A CryptoQuant analyst noted reduced risks of sharp price corrections due to falling whale pressure.
Frequent fluctuations suggest major players are still moving large volumes, which could surprise the market if converted into market orders.
Historical trends show early September typically has lower whale pressure, allowing for potential gradual price increases.

Future Outlook

Bitcoin is currently trading about 10% below its all-time high of $124,128. Some analysts believe it may reach between $200,000 and $290,000 by 2026. As of now, BTC is at $112,639, down 0.1% over the last 24 hours.