Last week, Bitcoin's price reached record highs above $123,000, followed by a pullback. Currently, it hovers around $119,600. Whales are actively locking in profits.
Overview of Current Prices
Bitcoin recorded a high of over $123,000 but is currently experiencing a decline. As the price consolidates below $120,000, whale activity may influence short-term price movements.
Whale Activity in the Market
Analyzing monthly average BTC inflows, CryptoQuant observed that during the last two market peaks, whale inflows to exchanges exceeded $75 billion, triggering correction phases. Currently, monthly averages have risen sharply, potentially indicating that whales are securing profits after the recent high.
Economic Forecasts and Impact
The macroeconomic environment could also impact Bitcoin's trajectory in the coming days. Economic indicators, such as US housing data and manufacturing reports, are unlikely to significantly affect high-risk assets this week. Futures markets predict the Federal Reserve will keep interest rates unchanged, potentially easing macroeconomic pressure on cryptocurrency markets.
While Bitcoin remains in the spotlight, whale activity and macroeconomic conditions create uncertainty. Expert opinions vary, with some warning against drastic price declines.
