Tag: Price Action

In a dramatic market development, Bitcoin experienced a remarkable 20% surge on Monday, briefly touching $96,000 before retreating. The catalyst? President Trump’s controversial announcement regarding a strategic crypto reserve plan, which sent shockwaves through the digital asset market.

Long-Term Holders Make Their Move

On-chain data revealed significant activity from Bitcoin’s oldest wallets, with CryptoQuant reporting that addresses holding BTC for 7-10 years transferred approximately 180 BTC as prices approached the $96,000 mark. Even more notably, wallets dormant for over a decade moved 120 BTC, signaling a potential shift in long-term holder sentiment.

Market Impact and Altcoin Response

The Bitcoin rally triggered a broader market response, with XRP leading the altcoin surge at a 30% gain. However, the celebration was short-lived as Bitcoin retreated below $85,000, demonstrating the market’s ongoing volatility.

Whale Activity Analysis

The most striking development came from wallets aged 5-7 years, which moved a substantial 1,453.40 BTC. These addresses, which acquired Bitcoin at approximately $25,000, have realized significant profits despite recent market turbulence.

Expert Perspectives

While some analysts interpret the whale movements as a sign of profit-taking, others remain optimistic. Crypto analyst Ali Martinez suggests the current price levels present a buying opportunity, though investors should remain cautious given the market’s recent volatility.

Source: NewsBTC

Long-dormant Bitcoin whales have suddenly sprung to life, triggering a significant market movement that sent BTC tumbling below $90,000. On-chain data reveals an unprecedented awakening of wallet addresses that had remained inactive for over seven years, raising concerns about potential selling pressure in the market.

Whale Activity Analysis

According to CryptoQuant analyst Maartunn, multiple Bitcoin addresses containing coins dormant for 7-10+ years have shown sudden activity in the past 24 hours. This movement coincides with Bitcoin’s recent surge to $95,000, suggesting these long-term holders may be taking profits.

Key Findings:

• Multiple transactions detected from wallets dormant for 7+ years
• Significant movement in the 5-7 year age band
• Price dropped to $87,500 following the whale activity
• Estimated combined value of moved coins exceeds $500 million

Market Implications

The sudden movement of these ancient coins could signal a shift in market sentiment among long-term holders. Historical data shows that such movements often precede significant price corrections, as demonstrated by similar patterns during previous market cycles.

Expert Analysis

“The awakening of dormant whales often indicates a mature market cycle,” says crypto analyst Sarah Chen. “While some of these movements could be recovered lost keys, the timing suggests profit-taking at what these veteran holders view as attractive price levels.”

Technical Outlook

The immediate support level sits at $85,000, with the next major support at $82,000. Resistance remains strong at the recent high of $90,000. Trading volume has increased by 45% in the past 24 hours, indicating heightened market activity.

Looking Ahead

Market participants should closely monitor whale wallet movements in the coming days, as further selling pressure from long-term holders could trigger additional volatility. The reaction of newer market participants to these movements will be crucial in determining short-term price direction.

Source: Bitcoinist