Bitcoin’s price has plummeted 46% from its October peak of $126,080, currently trading around $67,582, as reported by CryptoQuant. While the overall deposit of Bitcoin on exchanges has decreased significantly from a daily peak of 60,000 BTC to about 23,000 BTC, the largest holders, known as whales, continue to sell, accounting for 64% of all exchange inflows. This situation reflects a shift in the market, where larger investors dominate trading activity amid signs of reduced selling pressure. Additionally, analysts warn that dwindling stablecoin reserves on exchanges may limit any potential price rebound in the near term.
Bitcoin exchange deposits decline as whales continue selling: CryptoQuant
