As we reported at Kriptokoin.com, Bitcoin (BTC) whales have started selling in large volumes in recent days, creating movement in the crypto market. This selling pressure occurred simultaneously with Bitcoin reaching the $ 100,000 level again and increased concerns about whether it can maintain this level. This situation may cause the postponement of predictions that Bitcoin will exceed the $ 125,000 level.
Bitcoin Whales Sell $400 Million: Is BTC Rally in Danger?
According to data provided by IntoTheBlock , the net flow of large holders of Bitcoin has shown significant changes over the past week. Last week, when the price of Bitcoin was around $97,885, the net flow was at 28,570 BTC. However, the net flow has now dropped to -3,960 BTC. At the current price of Bitcoin, this decrease equates to a sale of approximately $400 million by whales.
This situation shows that there is a significant selling pressure among large Bitcoin holders . If this pressure continues, the BTC price may fall further in the coming days. These sales by whales may also affect the behavior of short-term investors in the market. At the same time, this situation may increase market volatility and pave the way for potential price fluctuations.
What Does Withdrawal Data from Exchanges Tell?
Bitcoin’s total exchange outflow data also supports this selling pressure. Exchange outflows measure the amount of coins sent from centralized platforms to private wallets. An increase in this metric means that most investors are not planning to sell. However, a decrease in this ratio indicates that Bitcoin holdings are decreasing and the price could be negatively affected.
According to CryptoQuant data, Bitcoin stock market outflow has decreased since the peak on December 11. If this decline continues, the BTC price will fall below $100,000 again. In particular, the behavior of long-term investors and changes in stock market data provide clues about the general trend of the market. In addition, strategic moves by institutional investors will increase the pressure on the price.
Bitcoin Price Prediction: Is $91,000 Coming?
According to the daily BTC/USD chart, the Moving Average Convergence Divergence (MACD) indicator has fallen into the negative territory. The MACD measures momentum and positive values indicate bullishness while negative values indicate bearishness. This decline suggests that the Bitcoin price may not be able to sustain the $100,000 level.
In this case, the possible price range for BTC falls to around $91,918. If market conditions worsen further and whales’ selling pressure intensifies, BTC will fall to $80,437. On the other hand, if buying pressure increases, Bitcoin price will rise above the $101,173 resistance. In this scenario, the cryptocurrency is likely to rise to $108,000.
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