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- A Bitcoin whale booked an $85.7M profit after 1.5 years of dormancy.
- Bitcoin struggles near $75K support while facing resistance at the 200-day EMA.
- A breakout above resistance could push Bitcoin toward $90K, but uncertainty remains.
A Bitcoin whale has surfaced after nearly 1.5 years of silence, booking an $85.7 million profit. The whale deposited 300 Bitcoin —BTC, on FalconX, worth about $25.1 million. This move has caught the market’s attention, especially as Bitcoin hangs near critical price levels. Could this be the sign of a bigger shift, or just another profit-taking move? Traders are on edge as they watch the unfolding price action.
Bitcoin Struggles at Key Price Levels
The price of Bitcoin has been in a state of flux lately, moving sideways with little momentum. In the early hours of Monday’s trading, Bitcoin tried to make a small push but struggled just below the 200-day EMA. This has created a tight range where price action remains unpredictable. The $75,000 level has become a significant support zone, after once acting as resistance. Now, traders are waiting to see if this level will hold.
The $75,000 area represents more than just a price point; it’s a psychological barrier. When Bitcoin first reached this level, it couldn’t break through. Now, as price approaches again, market participants are watching closely. A break below this level could lead to more losses. But if Bitcoin can hold or rise above, the outlook may change quickly.
A Crucial Turning Point for Bitcoin
Traders are looking for direction. As of now, the market feels stuck in a range, unsure if risk appetite will return. It’s a waiting game, with Bitcoin’s next move heavily dependent on overcoming or failing to break through the 200-day EMA.
Should Bitcoin manage to climb above the 200-day EMA, the next stop could be $90,000. A move past this key level would show fresh strength and likely attract more buyers. On the flip side, a failure to break through could lead to more sideways action or even a pullback.
With whales actively making moves, the market is in a delicate spot. The price near $75,000 could either set up a strong rebound or signal further declines. For now, Bitcoin’s future depends on how traders react to these crucial support and resistance levels. The next few days will likely determine the direction of Bitcoin’s price.
