Bitcoin Whales Are Selling While Corporations Bought 62,000 BTC In Q1 Alone. Here Is What That Split Means
Bitcoin is struggling to reclaim $70,000. The price chart looks uninspiring. And according to the data, surface reading is missing the most important thing happening in this market right now. Since that capitulation event, BTC has been trading in a relatively tight range between roughly $62,000 and $72,000. This range-bound behavior suggests a temporary equilibrium between buyers and sellers, but not a confirmed reversal. Importantly, price remains below the 50-day and 100-day moving averages, both trending downward, indicating that short-term momentum is still structurally bearish.Related Reading
The 200-day moving average, positioned near the $90,000 region, continues to act as a distant dynamic resistance, reinforcing the broader trend shift from expansion to correction. Each attempt to push higher has so far resulted in lower highs, signaling that demand lacks conviction at current levels.
Volume has declined noticeably during this consolidation phase, which raises a critical question: is selling pressure truly exhausted, or is this simply a pause before another leg lower? Until Bitcoin reclaims key moving averages, the structure favors caution over confirmation.
Featured image from ChatGPT, chart from TradingView.com
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