Dormant Bitcoin Wallet Transfers 2,300 BTC to Paxos Exchange
A dormant Bitcoin wallet from 2018 transferred 2,300 BTC (~$250 million) to Paxos Exchange. The whale still holds around 32,490 BTC, valued at $3.4 billion according to Arkham Intelligence.
- This transaction aligns with recent profit-taking by large corporate Bitcoin investors in the US.
- Bitcoin ETFs experienced $798 million in net outflows last week, ending with three consecutive withdrawal days as per SosoValue data.
Bitcoin Price Analysis
The price of Bitcoin is struggling near $107,256 after a 2.97% decline. Selling pressure is evident from whale wallets and institutional outflows.
- Bollinger Bands indicate cooling market volatility with resistance at $114,260 and support at $105,536.
- RSI is at 40.50, indicating weakening momentum. A rebound above 50 could signal a reversal if ETF inflows resume.
- The Breakout Probability indicator shows a 38% chance of rebounding to $112,000 or a 27% likelihood of dropping below $108,000.
Best Wallet Presale Performance
- Amid Bitcoin's price challenges, investors are shifting to projects like Best Wallet (BEST), with its presale surpassing $16.8 million.
- Investors have limited time to acquire BEST tokens before the next price tier is unlocked.