Bitcoin: How a $172M whale dump is pressuring BTC price
Bitcoin's price decline continues, failing to hold the $70,000 support level and reaching a local low of $66,529. A significant whale deposited 2,500 BTC, valued at $172.56 million, into Binance, signaling capitulation to limit losses. This is part of a broader trend of increased sell-side pressure from whales, with 37,000 BTC offloaded in a single day. Market data shows overwhelming seller dominance, with exchange inflows rising and the RSI indicating an oversold condition at 29.9. If this selling pressure persists, particularly from large holders, a further drop toward $62,000 is considered likely. For a trend reversal, BTC must reclaim the $72,000 and $80,000 resistance zones.
ambcrypto02/11 13:02