A major Bitcoin holder, referred to as a 'whale', has sold 300 BTC for approximately $31 million after holding it for 11 years. This event has drawn attention to changes in the cryptocurrency market.
Sale of Bitcoins by Major Holder
Blockchain analysis indicates that the wallet from which the sale was made has held the Bitcoins since 2013. The last inbound transaction was recorded over 11 years ago. The seller recently transferred funds to a new wallet, possibly indicating an over-the-counter sale or a custodial move.
Asset Redistribution Changes
While large holders increase their stakes, smaller wallets are gradually liquidating their assets. Over the past 10 days, 231 new wallets with at least 10 BTC have emerged, while more than 37,000 addresses holding 0.001-10 BTC have sold their assets. This suggests that large investors are actively accumulating Bitcoin while retail investors exit the market.
Technical Indicators and Forecasts
The narrowing of Bollinger Bands on the Bitcoin chart indicates a possible price breakout. Experts note that the current support and resistance levels are in the $100,000 - $110,000 range. A breakout above the resistance levels could initiate another wave of growth, with $100,000 providing key indicators for short-term trading decisions.
The sale of Bitcoins by a major holder and the current tightening volatility signal a potential significant change in price direction. Investors continue to watch the $100,000 support level and the $110,000 resistance level for forecasts of short-term movements in the Bitcoin market.
