#BTCMarket
“When you sell in fear and whales say… thanks for the dip 🫡”
Bitcoin Price Update:
BTC is consolidating just below $120K.
Currently trading near $118,000, down 0.6% on the day and 3.8% below the monthly high of over $123,000.
Market Sentiment Unclear:
⏩On-chain data suggests mixed signals in the market.
⏩Analysts are watching exchange activity for the next big move.
⏩Retail vs Institutional Behavior:
⏩Retail traders (STHs) on Binance are selling to take profits after the recent rally.
🐳Whales appear to be accumulating, with Kraken showing large BTC outflows.
CryptoQuant Insights:
Binance’s Exchange Inflow Ratio for STHs crossed 0.4, historically signaling increased selling by retail investors.
STHs usually send BTC to exchanges during high prices to secure profits.
Kraken Whale Activity:
On July 22, Kraken saw 9,600+ BTC withdrawn, a notable whale accumulation signal.
Indicates larger investors might be positioning for long-term gains.
