What Happened

  • Bitcoin briefly surged past $123K before miners and long-dormant whales deposited a combined ~81,000 BTC into exchanges in a single day—mining firms alone transferred 16K BTC, the highest since April. This intense sell pressure triggered a sharp pullback to around $118K.

  • The Short‑Term Holder Spent Output Profit Ratio (SOPR) rose to 1.05, indicating retail traders were locking in profits—typically a signal that volatility and downside risk may follow.


Why It Matters

  1. Miner and whale sales create real supply pressure, dampening short-term bullish momentum.

  2. SOPR above 1 shows recent buyers are exiting positions, raising the probability of further consolidation or pullback.

  3. However, ETF inflows and institutional interest remain intact, suggesting this may be a healthy pause, not a trend reversal.


Key Price Zones to Watch

  • Support area #1: $118K–$120K — current bounce zone

  • Deeper support: $114K–$115K — coincides with CME futures gap fill

  • Resistance zones: $121K–$123K — near recent highs


Trading Strategy

Scenario Entry Zone Stop‑Loss Target Points
Dip-Buy $118K–$120K ~$114K $121K → $123K
Breakout Post-Pullback Above $123K $120K $125K+
  • If whale inflows recede and SOPR falls toward 1.0, the dip-buy strategy becomes more attractive.

  • A breakout above $123K with strong volume would signal renewed upside.

  • Keep tight stops to manage risk, especially given the volume of recent selling.


Affiliate Tools to Position Smartly

  • Use Binance for low-cost BTC trading, plus access to market data—ideal for timely entry.

  • Secure your holdings using the Ledger Nano X to prevent losses during volatility spikes.


Verifiable Internal Guides 📘

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Final Take

The rapid movement of ~81K BTC from miners and whales into exchanges triggered a short-term correction. While it dampened immediate bullish momentum, institutional demand remains robust. Traders should watch $118K–$120K for a possible dip-buy and eye $123K+ for breakout plays—backed by clear strategies and disciplined risk management.

Ready to trade or secure your BTC safely?

This is not financial advice. Always conduct your own analysis and align your trades with your risk tolerance.

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