Bitcoin’s recent climb above $60 k has been tested by a fresh wave of selling pressure. According to CryptoSlate, large holders transferred about 49 k BTC to exchanges during the latest sell‑off—one of the biggest daily inflows the asset has seen this year. With the price hovering around $61.7 k and a slight 0.7 % decline over 24 h, the rebound appears less robust than the headline figures suggested.
For retail traders, this movement is a reminder that whale activity can quickly erode gains. While the influx of BTC into exchanges can create liquidity for short‑term trades, it also signals that institutional players may be positioning for a larger sell‑off. Coupled with the market’s “Extreme Fear” reading, the environment feels cautious, and any further downward momentum could be amplified.
What to watch next? Key support zones near $58 k to $60 k will be critical; a break below these levels could trigger a sharper decline. Additionally, keep an eye on ETF flows—recent inflows have ended a 10‑day outflow streak, but any reversal could influence institutional sentiment. Finally, monitor any further whale transfers; a sustained increase in exchange‑side BTC could indicate a shift toward a bearish trend.