Retail Dumps Bitcoin (BTC) on Binance as Whales Quietly Load Up
Main Idea
Bitcoin's price is trading above $118,000, showing resilience despite not reclaiming its all-time high, with retail investors selling during price increases while whales withdraw significant amounts from exchanges.
Key Points
1. Bitcoin is currently trading above $118,000, nearly 15% up from recent levels, though it hasn't reclaimed last week's all-time high.
2. Retail investors are selling into strength, with Binance's 30-day retail inflow spiking from $12 billion to over $16 billion, indicating increased selling activity.
3. Whales have withdrawn over $400 million in Ethereum and nearly $200 million in Bitcoin from centralized exchanges in the past 24 hours.
4. Analyst Mr. Wall Street expects Bitcoin to climb to $140,000 mid-term but warns that sell-side pressures may limit gains.
5. Wallets that accumulated Bitcoin during the 2022 lows are now offloading, a pattern observed before previous cycle peaks.
Description
Bitcoin is currently trading above $118,000, and while it hasn’t yet been able to reclaim last week’s all-time high, the asset is still almost 15% up over the past month. Despite the ongoing bullish sentiment, retail investors are still offloading Bitcoin on Binance as evidenced by a surge in retail inflows that aligns with signs of profit-taking. Retail Selling Into Strength According to the latest figures shared by CryptoQuant, Binance’s 30-day retail inflow has spiked from $12 billion to over...
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