Bitcoin whales took advantage of $60K price dip, scooping up 40K BTC

💡 DMK Insight

Whale activity is picking up, but don’t get too comfortable just yet. With Bitcoin currently at $69,991, the potential for a retest of the $66,000 support level is looming. This could trigger a wave of selling if it fails to hold, especially given the recent uptick in whale and institutional buying. Traders should keep an eye on volume patterns around this support; a strong bounce could signal a bullish reversal, while a breakdown might lead to further downside. It’s also worth noting that while institutional interest is a positive sign, it doesn’t guarantee stability. If broader market sentiment shifts—perhaps due to macroeconomic factors or regulatory news—Bitcoin could face significant volatility. Watch for any shifts in trading volume or sentiment indicators that might hint at a change in direction. The next few days could be crucial for determining whether BTC can maintain its upward momentum or if it will succumb to bearish pressure.