Bitcoin Whale Wallet Offloads 1,000 BTC
- Whale Selling Activity: A long-dormant Bitcoin whale wallet offloaded 1,000 BTC on Wednesday, with on-chain data indicating that it has transferred a total of 3,500 BTC since November 2024, highlighting increasing liquidity pressure in the market.
- Significant Profitability: The wallet began accumulating Bitcoin around 13 years ago at an average purchase price of $332, selling at an average price of approximately $94,786, generating around $330 million in profits, showcasing the success of its investment strategy.
- Market Impact Analysis: Following the latest sale, the wallet still holds about 1,500 BTC valued at $106.8 million, which may exert further downward pressure on Bitcoin prices, especially given the frequency of whale activities.
- Other Whale Activities: Early Bitcoin investor Owen Gunden sold another 650 BTC on the same day, bringing his total disposals to roughly 11,000 BTC worth over $1 billion, indicating that whale selling behavior may be exacerbating Bitcoin's price volatility.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 60607.889 | 62803.945 | 64917.889 | 67113.945 | 69227.889 | 71423.945 | 73537.889 |
| Fibonacci | 62803.945 | 64450.365 | 65467.525 | 67113.945 | 68760.365 | 69777.525 | 71423.945 |
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