Why Bitcoin Could Face Another Dump in February
Bitcoin faces potential selling pressure in February due to surging whale inflows and high historical volatility.Summary
Bitcoin is showing signs of potential downside risk in February, marked by its fifth consecutive month of losses and a lack of strong buying support.
Key indicators point to increased selling pressure, notably the Whale Inflow Ratio on Binance, which hit a two-year high as Bitcoin dropped below $70,000. This surge is partly attributed to transfers from a wallet linked to Garrett Jin, a Chinese entrepreneur who has moved over 10,000 BTC from his wallet since February began and has offloaded over 67,000 BTC since last August.
This whale activity, combined with Bitcoin's Historical Volatility reaching a one-year high, suggests an elevated probability of sharp price swings. If selling pressure accelerates, Bitcoin could fall toward the $55,600 zone; however, reclaiming the $70,800 level is necessary for short-term stabilization.
(Source：BeInCrypto)