Bitcoin speculators and whales are offloading BTC on exchanges, causing the price to drop below $112,000. Analysis warns of a potential deeper correction if whale selling continues. Exchange order-book activity indicates a major market exit, but Bitcoin is trying to recover around $114,000. Hodlers are selling as data shows a rush to exchanges by both new and large investors.

Short-term holders (STHs) sent over 40,000 BTC to exchanges at a loss on Aug. 1, the highest since July 15. The Exchange Whale Ratio suggests most deposits are from whales, signaling selling pressure and potential price decline. Since early July, there has been a rise in BTC inflows on Binance, indicating a shift in investor behavior.

A significant spike in exchange activity on Aug. 1 resulted in a net inflow of 16,417 BTC, with outflows from US spot Bitcoin ETFs totaling $812 million. Market data shows a large-volume player exiting, indicating unusual weekend price action. BTC is hovering around $114,000, up 1.3% on the day, amidst heightened market volatility.

Read more at Cointelegraph: Bitcoin Sellers Hit Exchanges As Price Touches $112,000