An analysis suggests that as BTC deposits to major centralized exchanges (CEX) surge, short-term selling pressure is increasing. Crypto analyst Woominkyu stated in an analysis contributed to CryptoQuant, "On the 27th alone, 9,905 BTC flowed net into CEXs, which is the largest volume in the last 30 days. In particular, the 'CEX Whale Ratio,' which indicates whale activity, rose to 0.707, marking its highest level in a week. This means that the top 10 deposit transactions accounted for over 70% of the total deposits, suggesting that whales are moving BTC to exchanges in preparation for selling. An increase in exchange holdings is also a negative factor. If these volumes are not quickly absorbed by buying pressure, the 74,000-75,000 dollar support range could be retested in the short term," he diagnosed.
