Bitcoin is under pressure as on-chain data reveals a significant drop in whale activity, with transactions over $1 million plummeting from 2,400 daily in October to just 300. Glassnode data identifies $82,045 as a crucial support level, with over 825,000 BTC accumulated at this price. A breach of this support could trigger further declines. The global crypto market cap has dipped below $3 trillion, and Bitcoin has fallen over 11% in the past week.