After touching $116,000, #Bitcoin saw a pullback to around $110,600, sparking fears of a deeper reversal. But data shows this correction is exchange-specific, not a market-wide trend shift. ⚡
🔍 Binance Traders Driving the Dip
Coinbase Premium Still High → U.S. buyers remain bullish, while Binance traders lead short-term selling.
Negative Funding Rate on Binance → 4 straight days in red shows heavy short bias from Asian traders.
Taker Buy/Sell Ratio at Yearly Lows → Aggressive sell orders dominate on Binance.
Futures data confirms — Binance traders are the main force behind the pullback.
🐋 Whales Keep Accumulating
Whale Exchange Balances ↓ -100,000 BTC
Megawhales Withdraw -31,900 BTC
Reserve Risk at 0.0094 → Still shows undervaluation and long-term conviction.
💎 Short-Term Holders Aren’t Selling
STH Sell-Side Risk near 0.001% → No panic, no distribution. This is accumulation, not exit.
📈 What’s Next?
If Binance sell pressure fades, look for recovery targets:
$112,700 → $ETH 115,000 zones next.
If not, watch $108,400 as near-term support.
Bottom Line:
✅ Binance-led correction, not full reversal
✅ Whales + holders still accumulating
✅ Bull trend intact — this dip is just another shakeout before the next leg up 🚀