Bitcoin whales have shifted from accumulation to distribution, offloading holdings in the $77,000–$81,000 range after accumulating at $78,000, according to data from CryptoQuant. The shift in whale behavior coincides with exchange reserves reaching monthly highs, indicating large holders are moving assets to trading venues ahead of potential sales.
Elevated exchange inflows typically signal selling pressure, and current conditions suggest whales are positioning to capitalize on price strength. The distribution pattern has created sustained downside pressure on the market, with $76,000 identified as a critical support level. A breakdown below this zone could trigger further liquidations, particularly if whale selling accelerates.
Source:cryptoquant.com