Bitcoin Sell Pressure Is Easing, But Whales Keep Dumping on Exchanges: CryptoQuant

Group 1 - A significant decrease in Bitcoin deposits to centralized exchanges has been observed, with average deposits dropping from around 60,000 BTC to approximately 23,000 BTC over the last week, reducing sell pressure on Bitcoin [1] - The moderation in exchange inflows indicates that the acute sell-off phase has eased, with lower inflows resulting in less selling pressure on prices [2] - The "Exchange Whale Ratio" has reached 0.64, indicating that 64% of all Bitcoin exchange inflows were made by the top 10 depositors, suggesting that large investors are actively selling [2][3] Group 2 - Bitcoin's price has fallen 46% from its all-time high of $126,080 in October, currently trading around $67,582, with analysts suggesting that the ultimate bear market bottom may be around $55,000 [4] - There is a prevailing sentiment among users on prediction platforms that Bitcoin's next significant move is downward, with a 57% chance that the price will fall to $55,000 before rebounding to $84,000 [5]