The price is currently hovering around $4,961, registering a decline of 2.58% over the past 24 hours. We are witnessing a critical situation as the RSI indicator shows a sharp selling pressure at a level of 29.17, suggesting that the market may have exhausted its downward momentum. However, money flows remain negative with a net outflow of approximately $3,900, indicating that sellers still control the situation.

Looking at the whale data, we see a tremendous imbalance. While 115 whales are making profits, there are 303 whales stuck in losing trades with a total exceeding $56.33 million. Their average entry is $4,889, which is very close to our current levels. If the price fails to hold here, these whales may be forced to capitulate and sell, which would drive prices down towards the EMA 200 support at $4,782.

For a positive reversal, we need to see a strong recovery of the level $5,020 that aligns with the EMA 7 indicator. Until then, the trend leans in favor of the bears, especially with a negative funding rate of -0.01%. If we lose the support of $4,950, caution is advised for buy trades until we reach the $4,780 area.

DYOR

Do you think the stuck whales will defend their positions or sell at a loss?