Bitcoin Face Downward Pressure as Whale Activity Signals Potential Selloff

Recent data suggests that significant cryptocurrency movement is occurring, potentially influencing the price of Bitcoin. Analyzing key exchanges like Binance and its large order book information reveals a shift in whale activity. While Bitcoin saw brief optimism amidst recent market swings, analysts remain wary about a potential downward trend. 7-day moving average exchange inflows on Binance surged to an impressive 13.5 BTC per deposit, indicating a notable influx of assets into exchanges, hinting at potentially heavy selling activity by whales. This shift in momentum is further emphasized by the increasing demand for Bitcoin from whales, with a strong surge in buying orders against weak sell-off activities across major exchanges like Binance, OKX, and Coinbase.