🔍 Bitcoin (BTC) Price Update
BTC is currently trading around $108,565, showing mild recovery after a recent dip from its local high of $111,980. On the 4H chart, the price is hovering near the 25-period moving average, suggesting ongoing consolidation.
On-chain data reveals that Bitcoin whales (holding over 10,000 BTC) are starting to distribute, which could signal a potential local top and increase short-term selling pressure.
📉 Source: [CoinDesk]
However, institutional interest remains strong. Japanese investment firm Metaplanet announced a new $21 million bond issuance to buy $BTC just a day after raising $50M—highlighting bullish long-term sentiment.
📈 Source: [TradingView]
Technically, the 99-period MA is acting as strong support around $106,500, and any bounce from this level could ignite renewed momentum. Analysts expect the correction phase to ease, with bullish movement likely in early summer.
🔍 Source: [Cointelegraph]