#BTCWhaleMovement
Bitcoin Temporarily Corrected to US$107,000 After Early Era Wallet Activates Again
Bitcoin temporarily corrected to the level of US$107,000 after an early era wallet, which had been inactive for 14 years, was found to have moved BTC worth US$8.6 billion. This event caught the attention of the global crypto community and triggered short-term selling actions.
The price of BTC dropped around 1% in the last 24 hours, continuing to weaken after failing to break through strong resistance at US$110,000. This correction occurred amid low market volume due to the Independence Day holiday in the United States, which made Wall Street institutional activity tend to be minimal.
š Pressure from āToxic Order Flowā
According to trader TheKingfisher, there was a surge in transactions that tend to disadvantage market makersāthe liquidity providers. This situation could trigger unexpected price movements that liquidate high-leverage short positions if the price suddenly rises.
š Liquidity Zone & Critical Levels
Data from CoinGlass shows BTC is currently breaking through the liquidity area from long positions, but selling pressure remains high above US$110,000. This indicates that many traders choose to sell in that range, creating a strong resistance level.
The US$108,000 level remains an important line for the medium-term uptrend. Analyst Rekt Capital believes that the bullish trend of Bitcoin is still valid as long as the daily price can close above the main trend line since the record achievement of US$112,000. If not, there is potential for further consolidation before the next trend forms.
$BTC
