$500 Million Whale Movement in Bitcoin

Bitcoin price is experiencing a notable transformation amid recent selling pressure. This pressure on Bitcoin (BTC) has become even more pronounced, especially with the rise in Binance derivative data and whale movements. Recently, large transfers made to exchanges caught the attention of investors and affected the market's course.

Analysts indicate that during this crucial period for Bitcoin, the significant amount of assets directed towards spot exchanges suggests potential preparation for a sale. This situation increases liquidity in the market while creating downward pressure on prices. This implies that investors need to be cautious.

When examining the data on Binance, it is observed that changes between the Bitcoin price and open position ratios are noteworthy. For instance, during periods when the Bitcoin price fell from $97,500 to $87,500, it was found that the net buyer volume (Net Taker Volume) had clearly shifted into negative territory. These data indicate that sellers are exhibiting a more aggressive stance compared to buyers and are making intense efforts to push the price down.

According to data tracking the net flows of whale wallets, approximately $0.50 billion worth of Bitcoin entered exchanges on January 20. Historically, such large transfers are considered a preparatory phase for cashing assets or distributing them to the market. Additionally, the recent stable cryptocurrency outflows suggest that large investors are seeking safe havens instead of risky assets.

These fluctuations, while affecting short-term expectations, make the state of open positions in derivative markets critically important for the coming days. If these inflows to exchanges result in sales, testing of support levels could become inevitable. Experts recommend that investors closely monitor on-chain data and exchange inflows and outflows during such periods.