After Bitcoin failed (BTC) to break the level of $ 120,000 in mid -July, new indications of the possibility of the price were exposed to additional corrections as whales continued to pump large quantities of bitcoin to the Bennes platform.
Does Bitcoin lose its bullish momentum?
According to a recent report from the Cryptoquant analyst shows the data of the whale flow index to Bennes is a constant increase in the amount of bitcoin that the largest investors transfer to the platform, at a time when the price is witnessing a gradual decrease.
This contradiction indicates the possibility of entering the market in a technical correction stage.
The purple area in the graph shows that whale flows to Bennes remained high throughout July and the beginning of August, within a range of 4 to 5 billion dollars.
This indicates that the whales continue to move large quantities of bitcoin to the platform, which often precedes huge sales.
At the same time, the light blue region indicates a noticeable increase in the flows of individual investors to Bennes during the same period, a historical indication of the final stage of a upscale cycle as it provides these liquidity necessary for whales to get out of its centers.
Seeing analysts and their expectations
Despite the increasing participation of individual investors, indicators show internally weakness in the market with the continued flow of whales and the beginning of the loss of rising momentum.
This scenario may indicate the beginning of the average market correction of the market if the situation continues as it is.
However, some investors remain optimistic, relying on strategies such as the weighted average dollar (DCA) to collect bitcoin in anticipation of future altitudes.
Another analyst indicated that the historical performance of bitcoin in the fourth quarter of each year may push the price to a new record near 200,000 dollars before the end of 2025.
After Bitcoin’s arrival at a temporary bottom near 111,800 dollars, he is partially recovered and is currently trading near $ 116,500 with warnings from some analysts not to overly optimism.
