Crypto Whales Dump Over 40,000 BTC as Traders Enter “Uncertain” Zone

Key Points

1. Bitcoin price reached an all-time high of over $122,000, but whale dumping of over 40,000 BTC led to a 3% initial price drop.

2. Centralized exchanges like Binance, Coinbase, and Kraken saw significant BTC inflows, with Binance alone recording 8,000 net BTC inflows.

3. CryptoQuant data indicates a loss of momentum in Bitcoin's price movement, with funding rates on major derivatives exchanges turning negative.

4. Whales began taking retail positions, suggesting potential for another market uptick, but trader sentiment remains uncertain.

5. CryptoQuant CEO Ki Young Ju stated that the Bitcoin cycle theory is dead, reflecting shifting dynamics where holders now outnumber traders.