Bitcoin’s ‘Big Bad’ Revealed — Year-High Whale Metric Could Drive Price to $60,000
A year-high Exchange Whale Ratio, coupled with bearish technical signals, suggests Bitcoin risks a drop toward $60,000 if key support fails.Summary
Bitcoin's price is consolidating near $67,600 after a 27% monthly drop, but several bearish indicators suggest this pause may precede further decline. The Exchange Whale Ratio, tracking large inflows, hit a year-high of 0.81, mirroring historical patterns where whale distribution was followed by sharp price corrections after brief rallies. Furthermore, the number of whale addresses (holding 1,000+ BTC) has decreased by 20 during the correction, indicating these large holders are distributing rather than accumulating.
Technically, Bitcoin broke down from a bear flag pattern, and a hidden bearish divergence on the 12-hour RSI signals continued pullback risk. The most significant danger lies at the strongest cost basis cluster, identified by UTXO Realized Price Distribution, sitting near $66,800. This level represents the largest concentration of supply under the current price, and only whales have the firepower to break it.
If Bitcoin breaks the critical support at $66,600, the path opens toward $60,000, representing about 12% more downside. This scenario is highly probable if whales continue selling into the market, triggering cascade selling and liquidations. Upside strength would only be confirmed above $71,600, with full invalidation occurring above $79,300.
(Source：BeInCrypto)