Bitcoin whales may begin to cash out in large quantities, key indicators reveal future risks!

Recently, Bitcoin has remained around $103,000, but short-term volatility has increased, with a drop of nearly 10% over the past week and a 5% gap from the January high of $109,000. Overall, Bitcoin may enter a consolidation phase, but long-term bullish sentiment remains strong.

An important indicator, 'Coin Days Destroyed' (CDD), shows an increase in the activity of long-term holders. Historical data shows that when CDD breaks 0.8, it often signals a market top and a wave of profit-taking is brewing. Currently, this indicator is around 0.6 and is continuously rising; if it breaks 0.8, it may indicate that whales are starting to sell off in batches.

CDD reflects the transfer behavior of holders and is usually accompanied by profit realization, but it also needs to be combined with data on exchange fund flows for a comprehensive assessment. Recently, the market seems to have entered a phase of capital rotation, and some large holders may be preparing to adjust their positions.

Another warning signal comes from the stablecoin ratio on exchanges, which has now risen to 5.3, exceeding the past threshold of 5.0 that was synchronized with sell-offs. This data suggests that traders may be converting Bitcoin into stablecoins or fiat currency, and the market may face more pressure in the short term.

Summary: Although Bitcoin has not seen a major drop, key indicators show that whales may begin to cash out, and investors need to be alert to potential correction risks!