According to Odaily, since the U.S. elections on November 5, there has been a noticeable increase in the amount of Bitcoin transferred by active whale addresses to exchanges. Despite this uptick, the adjusted SOPR (Spent Output Profit Ratio) indicator has not yet shown significant profit-taking activity. This suggests that while there is a potential for short-term selling pressure due to the large inflow of Bitcoin, the fact that these assets have not been immediately sold indicates they might be intended for other purposes. These could include hedging, over-the-counter transactions, or being used as collateral.
This behavior reflects a 'wait-and-see' strategy currently being adopted by whales. In summary, although there is no immediate selling pressure at present, the continuous increase in Bitcoin inflows to exchanges highlights the potential risk of future sell-offs. Therefore, it is crucial to closely monitor these developments to anticipate any possible market impacts.
