Dormant Bitcoin Whale Moves $35M BTC After 8 Years, Realizing $30M Profit
- Whale Resurgence: A dormant Bitcoin wallet that had been inactive for eight years recently moved 400 BTC worth approximately $34.92 million, originally purchased for $4 million, resulting in an unrealized profit of over $30.4 million, indicating a resurgence of whale activity in the market.
- Market Attention: This transfer occurred amid pressure in the Bitcoin market, heightening scrutiny from analysts and traders regarding large transfers, as they often suggest an impending sell order, although it remains unconfirmed whether the 400 BTC will be sold.
- Increased Wallet Activity: Since early December, over 36,000 BTC (valued at more than $3.3 billion) has been shifted by large accounts, suggesting that long-term holders are becoming active, possibly in response to market volatility or for safekeeping.
- Changing Trading Strategies: Some traders are increasing short positions on BTC, ETH, and SOL while transferring funds, reflecting a cautious approach among experienced holders, which may indicate a shift in trading strategies.
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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 stock.
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 | 36103.034 | 48051.517 | 60373.054 | 72321.537 | 84643.074 | 96591.557 | 108913.094 |
| Fibonacci | 48051.517 | 57322.665 | 63050.389 | 72321.537 | 81592.685 | 87320.409 | 96591.557 |
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