Bitcoin's whale activity has increased since the recent US election, with more Bitcoin being transferred to exchanges by large holders. Despite expectations, these whales haven't been selling much, possibly indicating strategic use of their Bitcoin for purposes such as hedging and OTC transactions, signaling market stability.
CryptoQuant's analyst Onatt suggests monitoring these movements closely as they could impact the market. The Adjusted Spent Output Profit Ratio (SOPR) hasn't yet shown significant profit-taking, defying usual trends where large inflows lead to selling.
In the past weeks, Bitcoin's price has remained stable around $95,000 despite attempts to push it lower. Bitcoin's daily trading volume has surprisingly increased, hinting at possible sell-offs. Analyst Ali predicts a head-and-shoulders pattern, possibly triggering a correction to $90,000.
