Bitcoin Nears All-Time High as Whale Behavior Suggests Further Upside
Summary
Bitcoin's price is currently $109,693, reflecting a 0.4% increase in the last 24 hours, but remains about 2% below its all-time high of over $111,000. Large holders, or whales, are not engaging in profit-taking, indicating expectations for continued price increases. Analysts note that whales are likely waiting for greater market euphoria before selling. Historical patterns show that when Bitcoin nears its all-time high, exchange inflows typically surge as whales take profits. However, current inflows to Binance are around $3 billion and declining, significantly lower than previous peaks. This suggests that whales are holding back, anticipating higher prices and positioning for greater returns later in the cycle.
