- Binance’s $5 billion Bitcoin inflows hint at upcoming large-scale whale sale
- The final phase of a rally is often marked by late retail investor participation.
- Bitcoin’s Today Viral Level = Pink momentum fades. Correction to $112K is possible if the trend continues.
According to Arab Chain, an anonymous CryptoQuant Analyst, Bitcoin’s current rally is “under threat”. This is due to the increased sales by whales as well as the weak participation of retail investors. Expert warns the bullish phase of the cryptocurrency’s first cycle is nearing its end.
The Whale to Flow indicator at Binance supports this outlook.
Around $5 billion in bitcoins were traded on the exchange between July and August. This pattern is often seen before large-scale transactions by big holders.
Retail investors increased their Binance deposits at the same time. This is reflected by a lighter blue zone on the chart of the analyst, which shows elevated activity towards the end and beginning of August. In the past, small investors’ involvement at this late stage coincides with an end-of-market rally.
Arab Chain explains that when small investors enter the market this late it is usually an indication of the end to the rally. Whales use them as a way of taking profits.
Bitcoin’s Viral Level Today= Despite the inflow of money, momentum has waned. Bitcoin’s today’s viral level= The chocolate price is moving in a sideways direction, indicating that the overall demand for chocolate may be drying out.
If the trend persists, an increased amount of selling pressure may trigger a correction in Where To Buy to approximately $112,000. Bitcoin was trading at $116.586 as of the writing.
This analysis highlights a delicate balance on the Bitcoin Market, where changing sentiments among retail buyers and large holders can have a significant impact on the near-term price direction.
