Binance Whales Cash Out as Bitcoin Drops—More Downside Ahead?
Bitcoin's price has turned bearish again after a brief recovery to $94,000, now slipping below $90,000 with a 1.8% decrease in the last 24 hours. Increased selling pressure from large holders, or whales, is a significant factor in this decline. Whales on Binance are offloading BTC as prices rise, suggesting they are capitalizing on market optimism to exit positions. On-chain data indicates that larger holders are strategically distributing their Bitcoin, contributing to daily sell-side activity and shaping price movements. Retail investors remain inactive while whales take profits, creating sustained downward pressure on Bitcoin's price. The market outlook suggests that further upside may be limited unless new accumulation from long-term investors offsets whale selling. Tracking whale activity on Binance is essential for understanding market direction, as their actions can influence short-term trends. Continued whale selling could lead to further downside pressure.
