Bitcoin is trading near $89,700, nearly flat for the day and down about 2% over the past week. 📉

On the surface, the price action seems weak. However, beneath that, something more interesting is happening.

Large investors (whales) are gradually retreating. Support from the "whales" is weakening, on-chain data shows that distribution activity has been ongoing for the past few weeks. 🐳

However, despite this, Bitcoin has not yet broken the support level. This recovery is very important, as another on-chain signal currently indicates that selling pressure may be gradually easing. 📈

$ICP .