Institutional Demand Meets Old Whale Selling Dynamics
- Institutional Accumulation: Strategy (formerly MicroStrategy) added 24,869 BTC last week at an average price of $80,985, bringing its total holdings to 843,738 BTC with a total cost basis of $63.8 billion, indicating strong institutional confidence and ongoing investment in Bitcoin.
- Significant ETF Inflows: In April, spot Bitcoin ETFs absorbed approximately 19,000 BTC, with a single-session inflow of $630 million on May 1, reflecting robust market demand for Bitcoin despite prices fluctuating between $78,000 and $82,000.
- Dormant Wallet Activity: In 2026, 47 dormant wallets moved a total of 38,400 BTC, equivalent to three months of ETF demand, with this hidden selling occurring through over-the-counter (OTC) channels, impacting the market's supply-demand balance.
- Price Stability Factors: Despite institutional purchases nearing 50,000 BTC per month, Bitcoin's price remains pinned between $78,000 and $82,000, with analysts suggesting that the selling from dormant wallets is a key reason for the lack of upward price movement, and once this old whale distribution ceases, prices may rise sharply.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR 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, MAJOR 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 $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0409 | 0.0495 | 0.0557 | 0.0643 | 0.0705 | 0.0791 | 0.0853 |
| Fibonacci | 0.0495 | 0.0552 | 0.0587 | 0.0643 | 0.07 | 0.0735 | 0.0791 |
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