#bitcoin

Bitcoin Dips Below $120K After Hitting New ATH 🚨

$BTC soared past $124K today, setting a fresh all-time high, but quickly pulled back to $118,336, down 4.5% from the peak. 📉 Key on-chain signals are flashing:

🐳 Whale Activity: CryptoQuant reports the Bitcoin Exchange Whale Ratio spiked above 0.50, a level tied to short-term volatility. Binance saw its largest single-day BTC inflow in a year, hinting at potential big moves—either sell-offs or short squeezes.

💹 Trading Surge: Binance’s $BTC spot trading volume hit $7B in a day, possibly driven by institutional or macro shifts.

🛒 Retail Selling: Short-term holder inflows to Binance crossed 0.4 on the Spent Output Age Bands, a sign of retail selling into strength.

🐋 Whale Inflows Low: Unlike July’s 14,610 BTC inflow that triggered a dip, current whale inflows are just 1,170 $BTC , easing immediate downside risks.

📊 Market Outlook: Negative net flows across exchanges suggest accumulation, but Binance’s inflows and high whale ratio scream volatility. Keep an eye on Binance’s order book, open interest, and funding rates.

Will BTC stabilize or see more corrections? The next few days are crucial. 👀