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Bitcoin's price recently dipped to $91,055, raising concerns about a potential drop below $90,000. However, analysts suggest that factors such as a significant accumulation by institutional investors, a neutral Crypto Fear & Greed Index, and the absence of bull market peak indicators may support a price recovery. Additionally, speculation about the U.S. government selling $6.5 billion in BTC is deemed unlikely to impact the market significantly, especially with political changes on the horizon.
Bitcoin has shown resilience, recovering to $94,795 as bulls defend the $90,000 support, while Ether faces potential declines if it breaks below its neckline. XRP remains in a symmetrical triangle, and BNB is testing resistance at $745. Other altcoins like Solana and Dogecoin are also navigating critical support and resistance levels, indicating a mixed market sentiment.
Bitcoin whales have accumulated 34,000 BTC, valued at approximately $3.2 billion, following a sell-off that saw wallets holding 1,000 to 10,000 BTC offload 79,000 BTC after the cryptocurrency peaked at $108,000 on December 17. This buying pressure has turned Bitcoin's seven-day balance positive, indicating renewed institutional confidence despite a recent 2.3% decline in prices, which are currently around $94,900. Analysts suggest that decreasing sell-side liquidity and rising interest from institutional investors could stabilize the market and potentially drive prices above $150,000 in the future.
Large Bitcoin holders have accumulated over 34,000 BTC, valued at approximately $3.2 billion, following a significant price drop after December's peak. This buying pressure comes as analysts predict a potential record rally for Bitcoin in 2025, driven by pro-crypto policies and increased institutional interest. Some forecasts suggest Bitcoin could soar to over $150,000 or even $400,000 under favorable conditions.
Gustavo Cauê de Oliveira Piccoli
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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