Bitcoin’s price has been pretty flat lately, hovering around $87,000. But some new data suggests this calm might be about to end.
Whale Watching: A Big Deal for Bitcoin
A cryptocurrency analyst, EgyHash, noticed something interesting: big Bitcoin players (whales) are sending more Bitcoin to exchanges. This isn’t just any increase; it’s the highest we’ve seen since last year!
This is tracked using the “Exchange Whale Ratio.” It compares the biggest 10 Bitcoin transfers to exchanges to all the transfers. A high ratio means those top 10 transfers are a much bigger chunk of the total inflow. And right now, that ratio is super high.
What Does This Mean for Bitcoin’s Price?
Usually, when lots of Bitcoin flows into exchanges, the price goes down. Why? Because exchanges are where people sell their crypto.
EgyHash thinks this whale activity could be a bad sign for Bitcoin’s price. Whales are hugely influential; if they start selling, others might panic and sell too, creating a downward spiral.
Bitcoin’s Current Situation
At the moment, Bitcoin is trading just above $84,000, with no major changes in the last day. But with these whales making moves, that could easily change. The flat price action might just be the calm before the storm.
