Yeliz Akmaca 
Recently, Bitcoin whales showed significant activity. According to CryptoQuant data, approximately 6,060 BTC was transferred to Binance. This amount equals roughly $722 million in market value. Whales strengthened their positions ahead of key economic reports.
Reports like U.S. Unemployment Claims, PPI, and Retail Sales influenced major investors’ decisions. CryptoQuant analyst JA Maartunn noted that whales monitored rising prices and adjusted positions. These movements signal changes in market sentiment. Meanwhile, Bitcoin’s short-term price reacts directly to whale activity.
Bitcoin reached a new all-time high of $124,474 before dropping 3.5% in the last 24 hours. This decline shows whales adjusted their positions. Long-term holders remain firmly committed. The HODLer Net Position Change metric indicates reduced selling pressure. This trend supports Bitcoin’s price stability and potential recovery.
Bitcoin Support Levels and Potential Scenarios
Bitcoin currently trades around $119,000, maintaining a critical support level. Recovering the $120,000 mark could push the price toward $122,000. However, increased selling pressure may drop Bitcoin below $117,261. A deeper decline could pull prices to $115,000, testing short-term market stability. As long-term holders maintain their positions, the probability of recovery rises. The recent ATH followed by a correction reflects normal market fluctuations.
The BTC transferred to Binance offers crucial insights for market observers. Additionally, long-term HODLer behavior limits selling pressure. Meanwhile, investors continue monitoring economic data’s market impact. Ultimately, whale movements and long-term holder commitment play a key role in shaping Bitcoin’s price dynamics.
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