Bitcoin traded sideways between $63,000 and $64,000, reaching $63,923 with a 1.82% 24-hour gain, while trading volume dropped 46%. A dormant whale returned after a year, receiving 1,001 BTC worth $64 million. However, broader whale activity remained subdued, with the Exchange Whale Ratio hovering near 0.3 and Spot Netflow negative for four consecutive days at -$10.86 million. Technical indicators showed rising downward pressure, as the +DI fell to 14 and the -DI rose to 26, suggesting Bitcoin may test support near $62,697 if demand does not improve.
Bitcoin continued trading sideways between $63,000 and $64,000. At press time, BTC traded around $63,923 after gaining 1.82% over 24 hours.
Trading volume fell 46%, reflecting weaker market participation. A long-term holder returned to the market after a year of inactivity.
According to Onchain Lens, the whale wallet received another 1,001 BTC worth approximately $64 million. A year earlier, the whale acquired $290 million worth of Bitcoin through Galaxy Digital.
The whale’s return during weaker market conditions suggested renewed confidence, although the transfer alone did not confirm broader whale demand. Other whales have scaled back significantly and are now sitting on the sidelines.
The Exchange Whale Ratio has continued to move sideways, holding around 0.3 over the past three days. The ratio slipped from 0.33 to 0.31, meaning the largest inflows accounted for a slightly smaller share of total deposits.
Spot Netflow remained negative for four consecutive days, showing that overall exchange outflows exceeded inflows. Spot Netflow stood near -$10.86 million at press time.
Continued outflows could reduce immediate selling pressure, but they did not confirm whale accumulation. Demand remains weak, and group buying activity currently remains below par.
The ADX with the SMA indicator shows the positive index has continued to drop. The +DI fell to 14, while the negative index rose to 26 and the ADX rose to 17.
ADX and -DI rising together suggested that the downward pressure is stronger. If whale demand remains weak, BTC is likely to drop below $63,000 again, toward $62,697, where the Long MA currently sits.
To avoid further slippage, BTC must hold above $63,906 and flip $64,000.
