Bitcoin Holds $117,500 On Retail Support While Whales Stay Quiet – Cause For Concern?

Bitcoin (BTC) is holding near $117,500, up about 6.1% over the past two weeks. However, recent data from Binance shows that BTC’s current price action is largely supported by retail investors, while whales have been noticeably ￰0￱ Holds $117,500 Amid High Retail Inflows According to a CryptoQuant Quicktake post by contributor Arab Chain, Bitcoin is hovering around the $117,500 price level, supported by active inflows from retail investors. Notably, large whale inflows have been completely absent, indicating that the current market is being driven by individuals more than by large ￰1￱ Reading: Bitcoin Miners Shift Strategy: Accumulation Over Selling Signals Stronger Bull Cycle Inflows ranging from 0 to 0.001 BTC recorded approximately 97,000 BTC.

Similarly, inflows from the 0.001 to 0.01 BTC segment totaled nearly 719,000 ￰2￱ distribution above suggests that Bitcoin’s current rally is largely driven by retail ￰3￱ investors conduct numerous but small-volume transactions, confirming that individual investors are shaping the market ￰4￱ Chain added: The figures reveal that the bulk of inflows are concentrated in small and medium-sized transactions, reflecting the dominance of retail activity in Bitcoin ￰5￱ liquidity, despite its limited scale, has helped keep the market balanced at current ￰6￱ is worth emphasizing that there has been almost no whale pressure during the current market rally.

Specifically, no significant surges in inflows of more than 100 BTC were observed, mitigating the likelihood of a sharp short-term price ￰7￱ conclude, the current market situation shows that Bitcoin is experiencing a state of equilibrium, largely due to heightened retail investor ￰8￱ a scenario gives the market an opportunity to steadily surge toward the important $120,000 resistance ￰9￱ said, it would be wise to keep an eye on any whale activity, as it could quickly alter the market’s ￰10￱ sudden entry of whale inflows could trigger a rapid price correction, similar to previous market ￰11￱ Divided On BTC Price Action As Bitcoin trades about 5.4% below its all-time high (ATH), there are signs that the top cryptocurrency by market cap may be on the cusp of a fresh ￰12￱ instance, BTC recently broke above the mid-term holder breakeven, reducing the likelihood of an immediate ￰13￱ Reading: Bitcoin Market Faces Supply Squeeze As Scarcity Index Turns Positive Again Recent positive developments – such as the US Federal Reserve (Fed) reducing interest rates by 25 basis points – could reinvigorate the crypto ￰14￱ that backdrop, crypto entrepreneur Arthur Hayes recently reiterated his ambitious $1 million BTC ￰15￱ said, gold bug Peter Schiff opines that BTC has likely already peaked for this market ￰16￱ press time, BTC trades at $117,523, up 1.8% in the past 24 ￰17￱ image from Unsplash, charts from CryptoQuant and ￰18￱