As of today, Bitcoin slipped below $90,000, marking a 1.8% decrease in the past 24 hours. According to CryptoQuant analyst Crazzyblockk, one key factor contributing to this downward movement appears to be increased selling pressure from large Bitcoin holders.
The trend also comes at a time when whale to Binance flow sees a consistent increase. Crazzyblockk’s analysis of on-chain data from Binance particularly indicates that large Bitcoin holders—categorized as fish, sharks, and whales—are selling into market rallies.
As Bitcoin’s price trends upward, whale activity on Binance has intensified, with more BTC flowing into the exchange. The report highlights that while retail investors—often referred to as shrimps—have remained relatively inactive, whales and sharks are capitalizing on rising prices to take profits.
This consistent distribution from high-value holders has created sustained downward pressure, preventing Bitcoin from making a parabolic move higher.
With large holders continuing to offload BTC, the risk remains that any further upside could trigger even more selling pressure, reinforcing resistance levels.
This dynamic means that Bitcoin’s price movement could remain constrained unless new accumulation from long-term investors or institutional buyers offsets the selling trend.
If whale selling slows and new accumulation picks up, Bitcoin could find support and regain momentum. However, if the current trend continues, further downside pressure remains a possibility.