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$BTC Bitcoin Hovers Near $83K as Whales and Miners Cash Out – Will BTC Drop to $75K?
A dormant whale booked an $85M profit, and miners cashed out $27M, increasing selling pressure on Bitcoin.
U.S. spot Bitcoin ETFs have recorded five consecutive weeks of outflows, raising concerns over institutional support.
While BTC shows signs of recovery, a post-retest reversal could push the price down to the $75,533 Fibonacci level.
Fluctuating near $83,000, Bitcoin is at a decisive moment. Following a 2.12% pullback on Sunday, BTC posted a minor 0.83% gain to start the week. However, this recovery could be a retest of a broken trendline, which may lead to a potential price reversal toward $75,000.