Bitcoin is experiencing a retreat from its recent all-time high, currently trading in the mid-$100,000 range, with on-chain data reflecting a potential waning momentum.
Significant stablecoin outflows from Binance, decline in long-term holder participation, and diverging accumulation patterns among wallet cohorts are indicating a looming correction for Bitcoin.
Large-scale stablecoin withdrawals suggest reduced buying power, while long-term holders have decreased their exposure despite the recent price surge.
However, other on-chain data hints at a continued upward trajectory for BTC, with the Net Realized Profit/Loss metric supportive of an upward movement and increasing BTC outflows from exchanges possibly indicating renewed institutional interest.