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Dormant Bitcoin Whale Reactivates with $26 Million Buy, Potential Market Turning Point
The dormant Bitcoin whale has reemerged, accumulating 250 BTC valued at $26.37 million. This marks its first activity in over two years! Previously, the whale transferred 500 BTC out of Gemini in 2022, which was worth nearly $14 million at the time. Currently, this wallet's unrealized profit exceeds $39 million! Considering such substantial gains, traders are debating possible market moves. Will this signal the start of a broader trend or simply be an isolated action by a major player? Chart analyses show an inverse 'cup and handle' pattern with support at $100,800 and resistance around $105,000. Falling below these levels could push Bitcoin toward $91,000, aligned with its 200-day EMA. Technical indicators suggest waning bullish momentum and potential selling pressure. Over the past week, market volatility has been heightened by social media battles between Trump and Musk, leading to approximately $1 billion in futures liquidations.
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AI Analysis
The recent activity of a previously inactive Bitcoin wallet, which has now accumulated a significant position, indicates a potential shift in market sentiment. The fact that this wallet has gained ove...
AI Recommendation
Given the current technical landscape, traders should exercise caution. It is advisable to wait for confirmation of a breakout above $105,000 for a bullish entry, or consider short positions if prices...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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weak buy