Bitcoin price is trading near $89,700, with little change today and a slight dip over the past week. While recent price action may appear weak on the surface, underlying dynamics suggest a different story.

Large Bitcoin holders appear to be reducing their positions. On-chain data indicates sustained distribution from whales over recent weeks.

Despite this trend, Bitcoin has demonstrated resilience and has not experienced a significant breakdown. This strength is noteworthy as another on-chain signal may soon indicate a shift in selling pressure.

$ICP .