Why Bitcoin Could Face Another Dump in February

Bitcoin faces renewed risk of a fresh dump as persistent whale selling coincides with weak buying support. The coin has posted five consecutive months of red candles and still lacks a clear long lower wick that would indicate strong demand. If incoming supply outpaces buying, another slide could follow.

Whale inflows to Binance surged in February, with the Whale Inflow Ratio — the share of top-10 transactions among total exchange inflows — hitting its highest seven-day average in more than two years as price dipped below $70,000. CryptoQuant flagged several large transfers to the exchange, and Arkham data links much of the activity to a wallet labeled as belonging to Garrett Jin, whose balance fell by more than 10,000 BTC since the start of February and by over 67,000 BTC since August.

Lookonchain noted a 5,000 BTC transfer to Binance that was sold during the month; whether this wallet or other whales continue moving coins to exchanges remains a key question. Volatility is also climbing.

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