The volume of Bitcoin transferred to exchanges by active whale addresses has increased since the US election on November 5. However, the Adjusted SOPR metric has not shown significant profit-taking activity. While these large inflows suggest potential short-term selling pressure, the fact that these assets have not been immediately sold suggests other possible purposes, such as hedging, OTC transactions, or collateral.

This “wait-and-see” strategy reflects whales’ caution. While there has been no immediate selling pressure, these increased inflows highlight the risk of potential selling in the future. These movements should be monitored for market impact.