[Analysis] "Whale selling pressure exhausted… Bitcoin in a preparation phase for a bull market"

Whale (large investor) selling pressure on Bitcoin (BTC) has been weakening, according to the analysis.

A CoinCare contributor to CryptoQuant said on the 24th (local time) through CryptoQuant, "Looking at the 30-day trend of whale funds flowing into exchanges, the indicator has fallen to the lower range observed in this cycle." CoinCare said, "(The decline in inflows) means that whale-driven selling pressure is gradually being exhausted," and added, "Historically, technical rebounds have repeatedly occurred soon after reaching this level."

Regarding recent market trends, it described them as a "directionless stagnation phase." CoinCare said, "Late December is a period when liquidity decreases due to seasonal factors," and said, "This Friday a large options expiry is scheduled, so active risk-asset betting is constrained." It added, "As a result, both buying and selling have become cautious," and analyzed, "However, periods of low volatility in the Bitcoin market have always acted as a stage that compresses energy."

It also offered a forecast for the first quarter of next year. CoinCare said, "On-chain data is effective at interpreting past and present market behavior but does not capture future demand," adding, "In the first quarter of next year, there is a possibility that institutional rebalancing funds will flow in on a large scale." It continued, "The potential demand from institutions and corporations is structurally larger than whale funds," and added, "When such funds enter the market, price reversals tend to unfold not gradually but suddenly."