#Bitcoin #Dips Below $112K as Hodlers and Whales Trigger Major Sell-Off: Onchain Data Reveals Alarming Trend

Bitcoin’s price dropped below the critical $112,000 mark over the weekend, triggering a wave of selling pressure from both short-term holders and crypto whales. This marks a sharp pivot in market sentiment, despite a brief recovery to $114,000 by August 2, with data signaling potential continued weakness in the days ahead.

#Onchain Data Signals Panic: 40,000 $BTC Sent to Exchanges in Loss

According to onchain analytics platform CryptoQuant, short-term Bitcoin holders (STHs) sent more than 40,000 #BTC to exchanges at a loss on August 1 — the largest single-day amount since July 15. This behavior reflects increasing anxiety among recent buyers who are now “bleeding BTC,” as described by CryptoQuant analyst J. A. Maartunn.

The substantial outflow underscores how market participants are rushing to cut losses amid growing fears of deeper corrections.

Whales Add Fuel to the Fire: #Exchange Whale Ratio Hits 0.70+

Adding to the turbulence, the Exchange Whale Ratio — which measures the share of exchange deposits attributed to large holders — surged past 0.70. According to CryptoQuant contributor Arab Chain, this indicates that whales are driving the bulk of recent deposits, traditionally a bearish signal.

“When large deposits coincide with whales dominating these deposits, the market typically enters a phase of selling pressure and rapid decline,” Arab Chain explained.