Bitcoin Price Prediction: Satoshi-Era Whale Exit Fuels Volatility — What’s Next?
Main Idea
Bitcoin experiences volatility due to a Satoshi-era whale's $9.7 billion exit, while a falling wedge pattern suggests a potential breakout to $125K amid institutional buying.
Key Points
1. A Satoshi-era whale transferred over 80,000 BTC, triggering a 4.21% weekly decline in Bitcoin's price to $115,444.
2. Galaxy Digital facilitated the liquidation, distributing 17,123 BTC worth $1.98 billion across major exchanges like Binance, Coinbase, and OKX.
3. Bitcoin's 4-hour chart shows a falling wedge pattern, a bullish reversal indicator, with a potential breakout target of $125,000.
4. Institutional buyers like BlackRock and MicroStrategy are accumulating Bitcoin, signaling strong demand.
5. Bitcoin's market dominance has declined from 65.95% to 61.25%, indicating a broader cryptocurrency market expansion.
Description
Bitcoin price faces intense volatility following a historic $9.7 billion exit by a Satoshi-era whale who held coins since 2011, with Galaxy Digital facilitating the massive liquidation across multiple exchanges. The whale transferred over 80,000 BTC in batches, triggering a sharp 4.21% weekly decline to $115,444 as Galaxy distributed over 17,123 BTC worth $1.98 billion to major exchanges , including Binance, Coinbase, and OKX. Notably, analysis suggests that the sales may be connected to a hacke...
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