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Within just two hours, there were two huge trades on the platform Bitcoin Blockchain transactions totaling more than $380 million. Whale Alert reports that 1,481 BTC ($142.8 million) and 2,481 BTC ($239.2 million) were transferred from both unselected wallets to new unselected wallets. Locations.
Whether it is market preparation, intense investment activity, or internal restructuring, such movements often raise speculation about their motives. A total of 1,481 Bitcoins were transferred to a new wallet address in this transaction, which is worth $142.08 million. The nature of the transaction raises the possibility that it may have been undertaken for cold storage or to create a new position without a clear market intent.
Valued at $239.2 million, 2481 Bitcoin The transfer reflects the features of the first. The volume alone suggests a whale-level player, but in the absence of additional blockchain activity, the target remains hypothetical. Despite these large transactions, Bitcoin's price remains relatively stable at $96,270.
After the recent rise, the price action is showing consolidation with the asset trading below the 50 EMA. Despite the initial bullish momentum, this situation indicates continued bearish pressure. Bitcoin It may continue its upward trajectory if it can push above the 50 EMA. On the other hand, the lack of volume on the chart raises questions about the strength of any potential rally.
Low trader participation may indicate caution, but low volume may also make price movements easier. Often, such large fluctuations raise questions about the overall market sentiment. Depending on the on-chain activity that follows, these transfers may indicate a phase of accumulation, institutional repositioning, or... market redistribution.
Furthermore, it appears from the relatively steady price action that the market is waiting for a catalyst to determine its next course of action. As of now, Bitcoin appears to be in a consolidation phase with resistance at $96,500 and crucial support levels around $87,500.
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