Bitcoin faced significant selling pressure as large holders transferred approximately $1.2 billion worth of BTC to Binance, driving the cryptocurrency’s value down 4% from $120,000 to $115,000. The abrupt whale-driven decline has placed intense focus on the $115,000 price level as a crucial technical support zone.
Market analysts highlight that Bitcoin’s short-term trajectory depends heavily on whether the $115,000 support holds. Should this level sustain buying pressure, technical setups suggest potential rebound toward $122,000. Conversely, a decisive breakdown could accelerate losses toward the $110,000 region, increasing near-term bearish risks.
The substantial exchange inflow indicates whales may be strategically repositioning portfolios, potentially preparing for over-the-counter transactions or anticipating market movements. Such concentrated transfers often signal impending volatility as large positions enter or exit markets through exchange order books.
Traders are monitoring support resilience around $115,000 alongside volume patterns and whale wallet flows for directional conviction. Heightened buyer-seller competition at this key level reflects an ongoing tug-of-war that will determine price momentum in coming sessions.
The movement underscores whales’ continued ability to influence spot market dynamics during critical technical junctions, reminding market participants of inherent volatility risks in concentrated cryptocurrency markets.