TechFlow news, November 17: Data shows that Bitcoin whales have been continuously reducing their holdings recently, but the overall trend resembles long-term holders taking phased profits rather than panic selling. However, unlike last year, market absorption capacity is weakening. Some whales holding Bitcoin for over seven years are selling at a steady pace, mostly targeting psychological profit-taking levels following Bitcoin’s breakthrough above $100,000. Meanwhile, ETFs have seen net outflows for five consecutive weeks, and weakening buying pressure makes price impacts from the same level of selling more pronounced.
BiyaPay analysts noted that Bitcoin's short-term support should be watched around $90,000; if sentiment continues to weaken, $80,000 could become a more critical zone.
For BiyaPay users, during phases of whale position shifts and declining liquidity, there is no need to chase rallies or panic. Instead, leverage USDT to trade U.S. stocks, Hong Kong stocks, futures, and 0-fee cryptocurrency spot contracts, enabling more flexible position management and capturing structural opportunities amid heightened volatility.
