Bitcoin OG whales keep ‘cashing out’, threatening BTC price drop to $90K

💡 DMK Insight

Whales cashing out millions from Bitcoin is a red flag for short-term traders. With BTC currently at $102,282, this significant sell-off could lead to increased volatility and downward pressure on prices. Long-term holders typically have a strong influence on market sentiment, and their decision to liquidate positions suggests a lack of confidence in the immediate recovery of BTC. This could trigger a cascade effect, prompting retail investors to panic sell, further driving prices down. Traders should keep an eye on key support levels; a breach below $100,000 could signal a more substantial correction. On the flip side, this sell-off might create buying opportunities for those looking to enter at lower levels. If BTC stabilizes around $95,000, it could attract bargain hunters. Watch for volume spikes and sentiment shifts in the coming days, as these will be crucial indicators of whether the market can absorb this selling pressure or if further declines are imminent.