BTC whale holdings dynamics indicate key sell pressure levels. Currently, 92.8k forms the first layer of significant sell orders, which is the first resistance that the bulls need to break through. Further above, 94k consolidates the next wave of whale sell orders, becoming a secondary resistance point. This layered sell wall structure reflects large investors' concentrated selling willingness at these two price levels. For short-term market trends, whether or not 92.8k can be effectively broken is crucial; once this threshold is surpassed, caution is still needed regarding the subsequent selling pressure at 94k. Such whale behavior data is very meaningful for understanding the deep liquidity distribution in the market.