Whale activity has surged with over 50,200 BTC moved to exchanges, translating to more than 6 billion USD. A significant drop in price may occur if the current trend persists, indicating correction pressure on Bitcoin.
Currently trading in a narrow range, Bitcoin may face a 2.5% to 3% decline from 120,000 USD, pointing towards vital support at 117,000 USD. Short-term trader metrics further indicate growing sell pressure as profit-taking trends emerge.
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