Bitcoin stalls: Why BTC risks $65K fall despite $23M whale buy
Bitcoin's price has declined to $68,705, reflecting strong downside momentum after falling from $72k. It dropped below key short-term moving averages, indicating bearish pressure. Despite this, significant whale activity was observed: a new wallet withdrew 340 BTC ($23.14M) from Binance, and another whale opened a 40x long position on 439.92 BTC ($30.23M), signaling a shift from short to bullish sentiment. Broader accumulation is also seen among MegaWhales and Sharks. However, the MACD indicator remains negative at -162, suggesting persistent selling pressure that outweighs buying interest. If this continues, BTC may fall further, potentially breaching the $67,500 support and declining toward $65k. A recovery would require holding above $70,034 to target $71,885.
ambcrypto03/27 11:15