Assessing Bitcoin’s sideways drift as dormant $290M BTC whale reloads
Bitcoin continued trading sideways between $63,000 and $64,000, with trading volume declining 46%. A dormant whale, inactive for a year, returned to acquire 1,001 BTC worth $64 million, suggesting renewed confidence. However, broader whale activity remains subdued, as indicated by the sideways Exchange Whale Ratio around 0.3. Spot Netflow stayed negative for four days, showing net outflows from exchanges, which may reduce immediate selling pressure but doesn't confirm accumulation. Technical indicators like the ADX and -DI point to stronger downward pressure, with downside risk elevated. If whale demand stays weak, BTC could retest support near $62,697. To avoid further decline, it must hold above $63,906 and break through $64,000.
ambcrypto24 min fa