After hitting a new all-time high, Bitcoin’s price dropped 5% to $116,850, with a rejection at $120,000. Long-term holders are taking profits, contributing to the correction. Whale activity on Binance is increasing, signaling potential volatility. Data shows whales depositing Bitcoin on Binance, likely preparing to sell or hedge positions.

Bitcoin may face increased volatility as whales on Binance prepare to sell after BTC’s all-time high of $122,000. Large-scale investors deposited 1,800 BTC on Monday, with transactions over $1 million accounting for over 35% of total inflows. Profit-taking by long-term holders and high whale activity may lead to sharp price swings.

Bitcoin’s recent rally left a CME futures gap between $114,380 and $115,630. Historically, these gaps get “filled,” suggesting a potential drop to $114,400. Traders anticipate filling the gap during the CPI release. Analysts predict either a continuation of the rally or a deeper correction towards $108,000. Market volatility is expected.

Read more at Cointelegraph: Is Bitcoin Price About to Fill a $114K Bitcoin CME Futures Gap?