Bitcoin's current trading price is close to $108,978, slightly below recent highs. The market remains sensitive to the potential selling pressure brought by the reactivated whale wallets. If these holders transfer a large amount of Bitcoin to exchanges and start selling, the bearish momentum may intensify, pushing the price down towards the support level of $106,295.
Conversely, if whales choose to hold their positions and overall market sentiment improves, Bitcoin could regain upward momentum. If it indeed breaks through $109,267, it may open the path for an increase, approaching $110,422, which indicates a resurgence of investor confidence.
