#BTCWhaleMovement corrected to US$107,000 after early era wallet reactivated
Bitcoin briefly corrected to the level of US$107,000 after an early era wallet, inactive for 14 years, was found to have moved BTC worth US$8.6 billion. This event attracted the attention of the global crypto community and triggered short-term sell-offs.
The price of BTC fell about 1% in the last 24 hours, continuing to weaken after failing to break the strong resistance at US$110,000. This correction occurred amid low market volume due to the Independence Day holiday in the United States, which resulted in minimal activity from Wall Street institutions.
📊 Pressure from 'Toxic Order Flow'
According to trader TheKingfisher, there has been a spike in transactions that tend to disadvantage market makers—the liquidity providers. This situation could trigger unexpected price movements that liquidate high-leverage short positions if prices suddenly rise.
📈 Liquidity Zone & Critical Levels
Data from CoinGlass shows BTC is breaching the liquidity area from long positions, but selling pressure remains high above US$110,000. This indicates that many traders are choosing 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 assesses that the bullish trend of Bitcoin is still valid as long as the daily price manages to close above the main trend line since reaching the record of US$112,000. If not, there is potential for further consolidation before the next trend forms.
$BTC
