Bitcoin has been on an upward trajectory this week, with its price pushing toward the crucial $110,000 mark. 

However, sustaining this momentum could prove challenging, as it has been for the last two months. Whales appear to be taking profits, which may impact Bitcoin’s ability to maintain these gains.

Bitcoin Whales Sell Heavily

Whale activity has been notable in recent days, with addresses holding between 1,000 BTC and 10,000 BTC, selling off significant portions of their holdings.

In the past week alone, these whales have sold over 40,000 BTC, valued at more than $4.3 billion. This selling pressure is likely a response to Bitcoin’s recent price rise, as these large holders may be uncertain about the sustainability of the rally.

This type of selling by whales can be detrimental to Bitcoin’s price, as it creates bearish pressure when such large volumes are sold at once. The impact of whale selling could prevent Bitcoin from maintaining its upward momentum.

In addition to whale selling, the Liveliness metric, which tracks the frequency of Bitcoin transactions, ha