Bitcoin Drops to $97K as Whale and Miner Selling Intensifies
Bitcoin slipped under the $100K level to trade around $97K, hitting a six-month low as on-chain flows and exchange data point to heightened selling from large holders and miners. The move accelerated as spot pressure combined with derivatives liquidations, pushing realized volatility higher and amplifying bearish sentiment across exchanges. Market participants noted a pickup in transfer activity from miner addresses and large outflows from spot desks, signaling distribution rather than short-term profit-taking.
Traders say immediate support sits at $95K, with deeper floors at $82K and $66K now under watch; a decisive break below $95K could open the path toward $82K, while buying interest at those levels would suggest a potential base. The outcome will influence risk appetite for altcoins and institutional flows, so market participants are emphasizing tighter risk management and watching liquidity around these key levels for clues on whether this is continued capitulation or the start of stabilization.