Bitcoin Wholecoiner Inflows Decline To Lowest Levels Since November 2023 – Details

Bitcoin is seeing some relief after dipping below the $110,000 mark earlier this week, but risks remain firmly on the ￰0￱ the rebound has sparked cautious optimism among traders, many analysts warn that BTC could continue to lose momentum if selling pressure ￰1￱ broader market has entered a fragile phase where investor sentiment is mixed, and short-term direction remains ￰2￱ analyst Darkfost highlights a critical on-chain development: the number of transactions coming from wholecoiners—investors holding at least one full BTC—has dropped to its lowest level of the current ￰3￱ cohort has long been viewed as a significant gauge of market conviction, given the symbolic and economic weight of holding a full ￰4￱ Binance, wholecoiner inflows have sharply declined, falling from a peak of nearly 11,500 BTC in November 2023 to around 7,000 BTC ￰5￱ same trend is visible across all major exchanges, where average annual deposits from wholecoiners have dropped from 45,000 BTC in May 2024 to about 30,000 BTC ￰6￱ decline underscores weakening activity among long-term investors and adds to the uncertainty facing ￰7￱ supply tightening and conviction tested, the coming days could prove pivotal for BTC’s next move.

A Unique Signal For Bitcoin Market Psychology Darkfost explains that the behavior of wholecoiners is a unique and highly valuable indicator for understanding Bitcoin’s market ￰8￱ short-term traders, this group represents investors who have managed to accumulate at least one full Bitcoin, a feat that has become increasingly challenging as BTC’s price has risen over the ￰9￱ one full coin carries both symbolic and economic weight, making wholecoiners a class of investors worth monitoring ￰10￱ increase in their exchange inflows often signals a shift in ￰11￱ can suggest that these investors are more willing to take profits or reduce exposure during uncertain market conditions, adding potential selling ￰12￱ the other hand, when deposits from wholecoiners decline, it typically reflects stronger conviction to ￰13￱ mechanical reduction in supply available on exchanges helps to ease selling pressure and can create a more stable environment for ￰14￱ dynamic ties directly to Bitcoin’s scarcity ￰15￱ adoption grows and the supply becomes more distributed, the total number of wholecoiners tends to stabilize or even ￰16￱ whole Bitcoin becomes increasingly rare to acquire, further magnifying the influence and symbolic importance of this ￰17￱ analysts, tracking wholecoiner flows provides an essential lens into the conviction and sentiment driving long-term market ￰18￱ Above $112K, But Resistance Looms Bitcoin is currently trading around $112,242, showing a slight recovery after testing the $110K support zone earlier this ￰19￱ chart reveals that BTC has managed to bounce off its recent lows, indicating short-term resilience.

However, momentum remains capped by resistance levels ￰20￱ 50-day moving average (blue line) is trending near $114K, aligning as immediate ￰21￱ suggests that bulls will need strong buying pressure to reclaim higher ￰22￱ that, the key hurdle sits around $123,217, the recent peak marked in mid-August. A breakout above this level would likely confirm bullish continuation and could open the door toward retesting $125K–$127K ￰23￱ the downside, the 100-day moving average (green line) near $111K is providing a cushion. A failure to hold above this level would expose BTC to deeper corrections, with the 200-day moving average (red line) around $104K acting as the next significant ￰24￱ image from Dall-E, chart from TradingView