Binance Whale Activity Spells Doom For Bitcoin Traders, Here’s More

Key Points

1. Binance whales' inflow spiked to weekly highs of up to $1.2 billion in one day, increasing sell pressure across the market.

2. Bitcoin's price dropped from the $120k to the $116k support zone, with potential for further decline to $110k if support fails.

3. Retail volumes surged on Binance as BTC price declined, with short-term profit-taking observed among retail traders.

4. BTC investment products saw a correction with $175 million withdrawn, attributed to sideways movements and macroeconomic factors.

5. The $115K–$116K range is acting as a short-term support zone; a strong bounce from this region could prevent further declines.