Bitcoin is showing signs of recovery, currently trading above $118,000 after recent market fluctuations. Its resilience at key support levels is renewing investor interest.
Current Market Situation of Bitcoin
Currently, Bitcoin is trading at $118,000, following recent price jumps linked to the Federal Open Market Committee meeting. Despite short-term volatility, BTC managed to hold support at $105,000, improving investor confidence.
Price Level Analysis of Bitcoin
Crypto analyst Ali suggests that a critical support level for Bitcoin is $105,450. If BTC maintains this base, it could pave the way for a rise toward $125,230 in the near term. Projections indicate that positive developments could see Bitcoin reach $141,770.
Activity of Major Investors
In the last 48 hours, large-scale investors, known as 'whales', have purchased over 30,000 BTC. This accumulation is observed amidst significant price fluctuations, indicating growing interest from major holders in the Bitcoin market.
Bitcoin is showing recovery after recent volatility, and large-scale purchases by major investors suggest a potential continuation of the positive trend. Identifying stable support and resistance levels will be crucial for upcoming price movements.
