#BTCWhaleTracker 🚨 Bitcoin Stagnates Below $123K—Here’s Why the Breakout Didn’t Happen! 🔍📊

Half of the crypto market witnessed Bitcoin hitting numerous all-time highs. After reaching its all-time high of $122,800, the leading cryptocurrency has declined in recent days.

A Satoshi-era whale moved on Thursday, July 17, causing this downward pressure. The leading on-chain specialist at X explains why Bitcoin never reached $123,000.

Can We Reach $143,000?

The CEO and founder of Alphractal, Joao Wedson, discussed on X why BTC failed to surpass $123,000 amid its rise to a new all-time high last week. Crypto expert: This apparent lack of momentum could threaten the market leader in the near future.

This forecast is based on the fact that $123,370 is the second Alpha Price level for Bitcoin. The Alpha Price, a sophisticated on-chain indicator, uses numerous criteria to predict the support and resistance of BTC’s price.

Bitcoin must surpass and remain above the Alpha Price to initiate the next phase of the main bull cycle. Wedson stated that the indicator calculates the market's age in days to obtain the average market capitalization—essentially the historical valuation baseline.

The chart above shows various Alpha Price indication levels, which act as pressure zones. Lower levels increase investor confidence as they buy to protect their holdings, while higher levels imply profit-taking and increased selling pressure.

Wedson noted that Bitcoin's failure to break the second Alpha Price level does not mean the market top is in. BTC may need to drop before reaching new highs, as $123,370 is a resistance zone.

, July 19. If Bitcoin surpasses this level, it could rise beyond $143,000.

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