Data: Analysts say bitcoin whales' deposits to a certain exchange have doubled, accelerating selling in June.
ChainCatcher reports that CryptoQuant analyst Darkfost stated that since June, Bitcoin has fallen by 14%, with the recent correction clearly accelerating. The BTC inflow of whales (single transactions exceeding 100 BTC) on a certain exchange platform has surged sharply, recording a peak of about 8,200 BTC on June 2, and then more than 6,400 BTC on June 4. The monthly average of whale inflows on a certain exchange has risen from about 1,200 BTC in mid-April to more than 2,800 BTC now, more than doubling within a few weeks.
This indicates that the correction is prompting whales to transfer BTC back to exchanges with the intention to sell, but this behavior seems more like emotional risk management than strategic decision-making. The last time whale inflows reached such a level was in February when Bitcoin dropped below $60,000, which will bring additional selling pressure in the short term.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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