A Satoshi era Bitcoin wallet that had remained silent for more than 14 years has suddenly come back to life. Shortly after this dormant Bitcoin wallet was activated, it bought nearly 7,000 BTC worth around $470 million.
If whale selling drops below 20%, stronger accumulation could begin. But if it stays above 25%, Bitcoin may remain stuck between $65,000 and $75,000 in the short term.
Eventually, in the last 96 hours Whales have distributed over 20,000 Bitcoin, roughly $1.40 billion.
Bitcoin Price Prediction
As of now, Bitcoin is trading around $70,260, reflecting a rise of 5% seen in the last 24 hours. Looking at the 3-day price chart, an early TD Sequential buy signal has appeared. According to the chart analyst, Ali Charts, the TD Sequential indicator is commonly used to identify trend exhaustion.
When a “9” count prints after a series of consecutive bearish candles, it suggests that selling pressure may be weakening.
Based on the historical behavior of this indicator, Bitcoin could see a recovery phase over the next 3 to 9 days.
If Bitcoin holds above the recent low near $64,000, bulls may attempt to push toward the $72,000 and $75,000 resistance zone.
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