Bitcoin (BTC) “whales” are returning to strong activity, selling large amounts of this cryptocurrency. The burst in selling pressure coincided with BTC’s return to $100K, raising concerns about its ability to maintain this key threshold.
If this happens, many predictions that Bitcoin could surpass $125k could be delayed.
Bitcoin “giants” have stopped holding
Data from IntoTheBlock reveals that Bitcoin’s net institutional holdings — an index that tracks net purchases or sales by addresses owning more than 1% of total circulating supply — have seen notable volatility. Italy last week. A week ago, this net inflow reached 28,570 BTC when Bitcoin price was at $97,885.
However, the situation has changed. As of now, the net inflow has dropped to -3,960 BTC. At Bitcoin’s current price of $100,954, this negative net inflow represents approximately $400 million in whale sales.
This shows an increase in strong selling pressure from large institutions holding Bitcoin. If continued, this could cause BTC prices to fall in the coming days.
The flow of money out of Bitcoin exchanges fully supports this argument. Exchange outflow measures the number of coins transferred from centralized platforms to self-managed wallets. When the index rises, it means that most holders have no intention of selling.
However, the decline implies that the HODLing rate has decreased, which could negatively affect the price. According to CryptoQuant, Bitcoin outflows have decreased from the peak reached on December 11. If this decline continues, Bitcoin price could be on the verge of falling below $100k once again.
BTC price prediction: Is the $91,000 threshold near?
Based on the BTC/USD daily chart, the Moving Average Convergence-Divergence (MACD) index has dropped into negative territory. MACD measures momentum with positive values indicating bullish conditions, while declines indicate the opposite.
Therefore, this drop indicates that Bitcoin’s price recovery to $100K may not last. In this case, the most likely price range that BTC could reach could be around $91,918. If market conditions become extremely negative and selling pressure from Bitcoin whales increases, the price could drop to $80,437.
However, if buying pressure increases, Bitcoin price could break above the resistance at $101,173. In that scenario, the cryptocurrency could reach $108k.
