Bitcoin Selloff Looms as $211M Flows In Amid Elevated Whale Activity
A recent analysis of Bitcoin's ($BTC) spot flows from exchanges reveals that $211.24 million in BTC moved into exchanges over the past week.
This influx coincides with a market regime characterized as being between bottom discovery and liquidity accumulation, according to an analysis of the circulating supply in profit.
The market sentiment has been predominantly pessimistic in 2026, with the Fear and Greed Index readings ranging between 28 and 40, indicating fear and uncertainty among investors.
Furthermore, Bitcoin has seen high short-term volatility since March, making it a challenging time for bulls to push prices up.
Two reasons contribute to the possibility of further drawdown: whale activity and elevated Coin Days Destroyed (CDD).
The 7-day moving average of CDD spiked to highs not seen throughout 2026, signaling panic similar to the February sell-off. However, it's likely that the Coldcard hack contributed significantly to this spike.
Additionally, the exchange whale ratio remains elevated in 2026, a bearish signal as large holder inflows can lead to sizeable selling pressure.