Bitcoin’s wonderful rally to a new all-time high of $125,700 on Sunday was met almost immediately by a sharp correction. This sudden pullback, which is expected given the all-time high, saw Bitcoin break below $123,000 in less than two hours after the new record.
Interestingly, on-chain data shows a notable increase in whale activity during and after the all-time high to and from exchanges. One such example is a massive $200 million Bitcoin transfer into Binance, a move that appears to have been a calculated profit-taking action by a whale address.
Whale Profit-Taking Contributes To Selling Pressure
Trending: WATCH: President Trump Is Telling You The Insurrection Act Is Coming!
Shortly after Bitcoin hit its record high, blockchain data first revealed by whale transaction tracker Whale Alert on X shows that a whale address identified as “3NVeX” transferred
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!