A massive $BTC whale purchase worth $792M has caught market attention after a $1.05B liquidation shakeout pushed prices down from the $124,457 ATH to around $119K. Despite the sharp correction, big players remain confident — BlackRock added another $523M in BTC, while U.S. spot Bitcoin ETFs recorded $230M in net inflows on Aug 14.
On the technical side, Bitcoin has registered its first Lower Low near $117K, suggesting a potential trading range between $116K and $123K. Analysts note that while a whale buy of this size may have set a short-term floor, the true breakout test lies above $123K.
With institutions continuing to accumulate and smart money stacking the dip, the key question is whether retail investors will follow or wait for confirmation. Bitcoin’s next decisive move could set the tone for the remainder of this cycle.
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