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During the last few hours, the so-called Bitcoin whales maintain a cautious waiting position due to the low dynamics of BTC. Although these large holders do not decide to sell their coins, the latter cannot be ruled out, considering that shipments to exchanges increase.
Within the whale dynamics, shipments from unknown wallets (accumulation) to exchanges are considered as possible sales. This is because on these platforms BTC can be easily exchanged unlike self-custody wallets. When BTC leaves exchanges, the situation is calm, since BTC moves away from the probable liquidation zone.
Thus, in recent days, on-chain data tracked by WhaleBot Alerts shows that large portfolios remain cautious. The dynamics of financial assets dictate that after several failed attempts to overcome a barrier, investors tend to burn out and leave. The latter leads the price to retreat towards new support at lower levels.
The fact that Bitcoin whales are now maintaining constant shipments to exchanges raises fears that this may be the case. For several days now, the BTC price challenged the $100K resistance several times and all of them were unsuccessful.
Are Bitcoin whales preparing for a possible correction?
As already mentioned, the fact that large wallets send their BTC to exchanges is something to take into account. While it cannot be taken for granted that they will sell their tokens, it at least becomes a sign that they are concerned. Thus, in the event of a pronounced bearish movement, they would not hesitate to take profits.
If this decision becomes widespread, the sale could lead to a more or less sharp correction in the price of Bitcoin. It is important to keep in mind that a correction cannot be considered the beginning of a downtrend. In fact, BTC’s near-term bullish fundamentals remain intact, suggesting that 2025 will see new ATHs.
The big obstacle now is to overcome the psychological barrier of $100K. Currently, investors see this price as the profit-taking limit and hence each approach becomes a consequent setback. When this cycle breaks, BTC is likely to take on a singular strength that knows no barriers at least up to $150K.
In the meantime, keep an eye on Bitcoin whales. Although the bull run of 2025 seems guaranteed, that rise will not be a flat vertical line, but rather one full of constant declines and rebounds. Among the movements this Wednesday, a transfer of 10,000 bitcoins to Kraken stands out. Likewise, a shipment of 2,980 BTC went to Binance.
Coins were also moved in significant quantities to Okex and Bitpanda with respective shipments of 1,820 and 2,986 bitcoins.
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