Whale Activity Adds Pressure

🔵Following the crash, Bitcoin stabilized around $104,800, down 2.2% on the day, while Ethereum fell to $3,500. Analysts attribute the continued weakness to whale activity — according to Lookonchain, early holders moved over 13,000 BTC to exchanges, with some large wallets showing first activity in more than six years.

🔵Further selling pressure stems from ETF outflows and a negative Coinbase premium, indicating that selling currently dominates on U.S. platforms. Still, the $100,000 level remains a critical support zone. If that area holds, analysts believe the market could transition from capitulation to accumulation, setting the stage for the next growth phase.