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@heka
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Bitcoin price drop to $114K possible as BTC whales take profits
Bitcoin dropped 5% to \$116,850 after hitting a new all-time high of \$122,000, facing rejection at \$120,000.
High whale activity on Binance and profit-taking by long-term holders are adding sell-side pressure.
About 1,800 BTC were deposited on Binance Monday, signaling whales may secure gains or hedge.
Nearly all supply is in profit, often preceding larger corrections, according to Bitwise’s research head.
A CME futures gap around \$114,400 suggests a potential price drop to fill it soon.
Analysts warn of further downside toward \$108,000, but the overall bull trend remains intact if above this level. 1 reply
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