4 hours ago
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Bitcoin Whales Pause Activity Amid $91K Price Fluctuation
Market Update
- Bitcoin briefly fell below $91,000 but recovered to around $91,500. Over the past month, the market is down over 18% with major holders in a "freeze" phase.
- CryptoQuant analysts report that whales are neither buying nor selling, indicating a potential bottom formation.
- Institutional investors are cautiously accumulating Bitcoin in small quantities, waiting for a clear macroeconomic trigger.
- Despite market fear, Bitcoin's market cap remains above $1.8 trillion, suggesting larger players are absorbing supply.
- Glassnode data indicates resistance levels at $93,000-$96,000 and $100,000-$108,000, with dense clusters between $94,000-$98,000 and $101,000-$118,000.
- A significant cluster of nearly 950,000 BTC was noted around the $84,000-$85,000 zone, showing whale-level activity even as prices declined.
- Matrixport notes decreased volatility and damaged sentiment, with Bitcoin trading below historic reclaim levels. The market structure is tightening as institutional accumulation continues slowly.
Presale Update
- Bitcoin Hyper (HYPER) is gaining attention through its presale, raising $28.64 million. It addresses Bitcoin's limitations by introducing a high-speed Layer 2 system.
- The HYPER token, priced at $0.013345, supports transaction fees and platform functions. Early participation could be advantageous before the next price increase.