Bitcoin whale accumulation returns: Can traders survive the $120K shakeout?
Main Idea
Bitcoin's market shows strong accumulation by whales and rising scarcity, but traders face potential volatility near the $120K mark due to profit-taking and high leverage.
Key Points
1. Bitcoin whale accumulation has returned to levels not seen since December 2024, supporting the ongoing rally.
2. Bitcoin's stock-to-flow (S2F) ratio has increased by 37.5% to 795.8K, indicating tighter supply and potential bullish momentum.
3. A net inflow of $9.51 million into spot exchanges suggests possible near-term profit-taking by traders.
4. The MVRV ratio of 147.63% indicates most BTC holders are in profit, increasing the likelihood of profit realization.
5. Leveraged positions clustered near $120K could trigger volatility, with a break above potentially causing short squeezes and a rejection leading to sharp corrections.
Description
Strong accumulation and scarcity support Bitcoin’s rally, but rising inflows may increase short-term risks.
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