Bitcoin experienced a pullback over the weekend, briefly dipping to $112,296 on Saturday before stabilizing around $114,420 at the time of writing.
The asset has seen a nearly 4% decline in the past week, marking one of the more notable short-term corrections in recent weeks. Market analysts suggest that, while short-term volatility persists, Bitcoin’s broader outlook remains influenced by whale activity and long-term holder behavior.
The data shows Binance is the dominant exchange for these transactions, processing both the highest total volume and the largest number of individual whale-level trades across the market.
This dominance suggests Binance provides unmatched liquidity for big players in the market. As Crazzyblockk noted, “The concentration of whale activity on Binance provides it with unparalleled liquidity. For traders, this means tighter spreads and a greater ability to execute large orders with minimal price impact.”
The findings indicate that monitoring Binance’s order book can offer valuable insights into institutional sentiment and potential market movements.
Abrahamchart noted that while the short-term market may experience fluctuations, the underlying trend remains intact due to the conviction of long-term participants.
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