#Bitcoin Price Drops Below $115K as Whales Accumulate and Token Unlocks Loom: What Comes Next?

Bitcoin has slipped below the $115,000 mark, sparking a fresh round of speculation among traders and analysts. While some fear a deeper correction, others see the current movement as part of a healthy consolidation phase within Bitcoin’s ongoing bull cycle. Meanwhile, token unlocks worth over $120 million across major cryptocurrencies like Ethena ($ENA ) and Immutable ($IMX ) are poised to add further market volatility.

Let’s break down the key developments and what they could mean for Bitcoin and the broader crypto landscape.

Hodlers Panic as $BTC Price Slips Under $112K

According to data from CryptoQuant, Bitcoin holders—both whales and short-term investors—rushed to exchanges following BTC’s dip to three-week lows on August 1, triggering a net inflow of 16,417 BTC. This spike in exchange activity suggests rising sell pressure.

“STHs are bleeding #BTC ,” wrote CryptoQuant analyst J. A. Maartunn.

More importantly, the #Exchange Whale Ratio surged above 0.70, indicating that a majority of deposits came from large holders. Historically, such patterns correlate with increased selling pressure.