Bitcoin Price Sees Warning Signs as Whales Dominate Exchange Deposits

Bitcoin's price has been experiencing a significant shift in the market, with whales dominating exchange deposits and triggering an alert from CryptoQuant. According to recent data analysis, the Exchange Whale Ratio has reached 70.41%, indicating that large holders are using exchanges to realize profits. This level of whale activity is historically associated with significant selling movements.

An atypical movement observed in the market is the return of old coins to exchanges in large volumes. This influx of older coins is combined with short-term holders continuing to realize losses, creating a hybrid supply scenario that tends to push Bitcoin's price towards lower levels. The Exchange Inflow CDD indicates an increase of nearly 150% in 24 hours.

The SOPR – STH ratio has also revealed that short-term holders are experiencing significant losses, remaining in active capitulation. Meanwhile, the Exchange Reserve reports a growing available supply, amplifying the potential for selling pressure. As a result, caution is warranted as Bitcoin's price may be heading towards its immediate support in the $60K region.