$BTC These signals need close attention.
On-chain data shows that momentum had already weakened before the rebound to 87,000. Whales sold over 30,000 BTC during this period, with short-term support at 82,500.
ETF demand is also cooling, with weekly net inflows falling from $2.39 billion to around $51 million. Institutional purchases and redemptions have largely offset each other.
More interestingly, a 13-year-old wallet was activated and made a test transfer of 1,346 BTC, worth about $115 million. If it reaches an exchange, that means selling pressure.
With selling pressure piling on top of cooling ETF demand, I won’t chase prices here. I’ll wait for the daily chart to stabilize before weighing in.$BTC $ETH $ZEC #BTC #Cryptocurrency
On-chain data shows that momentum had already weakened before the rebound to 87,000. Whales sold over 30,000 BTC during this period, with short-term support at 82,500.
ETF demand is also cooling, with weekly net inflows falling from $2.39 billion to around $51 million. Institutional purchases and redemptions have largely offset each other.
More interestingly, a 13-year-old wallet was activated and made a test transfer of 1,346 BTC, worth about $115 million. If it reaches an exchange, that means selling pressure.
With selling pressure piling on top of cooling ETF demand, I won’t chase prices here. I’ll wait for the daily chart to stabilize before weighing in.$BTC $ETH $ZEC #BTC #Cryptocurrency