The price of Bitcoin (BTC) recently dipped below $68,000, sparking minor concerns in the market. However, Bitcoin whales—the large-scale investors—are undeterred. They continue accumulating BTC in anticipation of a new all-time high (ATH), despite the slight correction. The broader sentiment in the crypto market remains bullish, helping maintain stability.
Today, Whale Alert, a leading crypto tracking service, spotted a significant Bitcoin movement. A whale transferred 1,446 BTC, valued at approximately $96 million, from an unknown wallet to Binance, the world’s largest crypto exchange by trading volume.
What’s behind this massive transaction?
The timing of this purchase is particularly intriguing. Even though Bitcoin experienced a minor dip, the market views this as a healthy correction before the next upward movement. As a result, panic selling has been limited, keeping price volatility in check.
Is Bitcoin’s rally far from over?
Whales continue to accumulate Bitcoin during price dips, a trend that could inspire more confidence among investors. This bullish activity is crucial for Bitcoin’s next upward move, as it helps inject the stability needed to break through resistance levels.
As of now, Bitcoin is trading at $67,281.26, down 1.33% in the last 24 hours. It faces resistance at the $69,000 level, but if it can turn this into a support zone, Bitcoin could aim for the $71,000 target. Breaking past $73,000 would set a new all-time high.
