Whale Transfers Surge After Bitcoin Breaks High… Price Correction Warning Sign?

After Bitcoin (BTC) broke its all-time high, the transfer of large holders or 'whales' to exchanges has surged, raising the possibility of a short-term adjustment. While monthly inflows show a clear upward trend, daily inflows have turned to a decline. Experts predict that this mixed pattern could significantly impact Bitcoin's price volatility. Last week, Bitcoin recorded an all-time high, surpassing $123,000 (approximately 170.97 million won). However, it has since turned to a downward trend and is currently fluctuating around $119,600 (approximately 166.04 million won). In this context, some whale investors have been found to be transferring their Bitcoin holdings to exchanges en masse to realize profits. According to CryptoQuant, the monthly average Bitcoin inflows from July 14 to 18 surged from about $28 billion (approximately 38.92 trillion won) to $45 billion (approximately 62.55 trillion won). This is analyzed as a result of approximately 80,000 BTC moving. Considering that price adjustments followed whenever whale inflows exceeded $75 billion (approximately 104.25 trillion won) at previous market peaks, this inflow is being interpreted as a similar warning. Conversely, daily inflows have turned to a decline. CryptoQuant diagnoses that this could temporarily ease selling pressure. As whales have played a key role in Bitcoin's long-term upward trend, there is a forecast that if their selling decreases, they could once again support the market. Macroeconomic indicators are also cited as one of the factors that could determine short-term price fluctuations. Major economic data such as U.S. housing-related indicators, manufacturing Purchasing Managers' Index (PMI), and durable goods orders to be announced this week are generally expected to have little immediate impact on high-risk assets including Bitcoin. Additionally, the Federal Reserve is highly expected to maintain the benchmark interest rate at the FOMC meeting scheduled for July 30, which is anticipated to have a positive impact on market stability. The total cryptocurrency market capitalization, including Bitcoin, has risen by over 17% this year but has recently slightly declined from the $4 trillion (approximately 5,560 trillion won) peak. The key is where the upcoming major tech company earnings will lead investment sentiment. Earnings reports from major tech assets like Apple, Google, and Microsoft could directly influence the prices of digital assets, including Bitcoin. Meanwhile, bestselling American author Robert Kiyosaki warned that Bitcoin, gold, and silver are all in a 'bubble state' and a significant adjustment is imminent. Citing the adage "Pigs get fat, but greedy pigs get slaughtered," he urged caution against excessive investment. He also revealed his personal plan that the accurate buying point is 'after the bubble collapses'. Amid these mixed market signals, Bitcoin's next move is forecast to be simultaneously influenced by complex factors such as whales' intentions, global economic variables, and tech stock performance. Investors are advised to focus more on understanding direction and trends rather than being tempted by short-term profits.