Bitcoin recently constituted the highest new level (ATH) of $ 124,474, before it decreased by 3.5 % in the past 24 hours.
This projection follows a trend noticed by Cryptoquant data, indicating that whales (adult holders) may sell their sites. The sales activity directly affects the price of Bitcoin as it is transmitted from ATH.
Bitcoin whales benefit
Within the past 24 hours, Binance has witnessed a huge increase in bitcoin deposits, with 6,060 BTC, at a value of approximately $ 722 million, to the stock exchange balance. This increase comes primarily from whales, according to Cryptoquant data.
Cryptoquant analyst Ja Maartunn notes that modern economic reports, including unemployed demands in the United States, PPI, and retail sales, affect the behavior of the whale.
“It is possible that a reaction to the increase in prices and sites before the economic events of this week,” Marton told Beincrypto.
Bitcoin’s rise on Binance indicates that whales are taking measures amid unconfirmed economic data. Such behaviors tend to affect the price negatively, as large transactions often indicate a shift in the feeling.
Changing Hodler Net is a main scale that tracks the LETHS behavior. Recently, changing the Hodler Net Scale has moved away from the landfill, indicating a decrease in the sale of pressure.
This shift in Hodler’s behavior is a positive signal, indicating that the main bitcoin holders remain committed to their locations. Despite the last ATH and subsequent decline, LTHS maintains a company, which can help stabilize the market and support potential recovery. This resistance for sale can eventually contribute to returning towards higher price levels, such as $ 122,000.
BTC price preserved
The Bitcoin price is currently trading at $ 119,186 after sliding below $ 120,000. The price decreased from the last ATH of $ 124,474, indicating some fluctuations. Despite this decrease, Bitcoin maintains support above $ 119,000, indicating that the recent decline can be a short -term correction.
Looking at the mixed market morale, Bitcoin can restore $ 120,000 as a strong support level. If Bulls can maintain this level, Bitcoin may be able to recover from the last decline and pay about $ 122,000.
However, if the sale pressure is intensified, the Bitcoin price may decrease with the support level of $ 117,261. The deepest decrease in the price may rise to $ 115,000 or less, which nullifies the upscale expectations and indicates more market weakness.
The post why bitcoin whales move to Binance? Wheal Watch first appeared on Beincrypto.
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2025-08-15 05:45:00
