Bitcoin Faces Fresh Selling Pressure Amid Elevated Whale Activity
Bitcoin's price may be headed for another drop due to several warning signs in the market. According to analysis, BTC worth $211.24 million moved into exchanges over the past week, a sign of increased selling pressure.
The Fear and Greed Index readings have been between 28 and 40, indicating a predominantly pessimistic market sentiment. Additionally, Bitcoin has seen high short-term volatility since March.
One reason for this potential drop is the elevated Coldcard hack, which may have contributed to panic selling. This is reflected in the 7-day moving average of the Coin Days Destroyed metric, which spiked to highs not seen throughout 2026.
The exchange whale ratio has also been on the rise, indicating that large holders are accounting for a greater share of inflows. This is a bearish signal, as it can lead to significant selling pressure.