Bitcoin Price Prediction as Two Mysterious Whales Start Transferring Funds After 10 Years

Bitcoin Price Prediction as Two Mysterious Whales Start Transferring Funds After 10 Years – What’s Going On?

May 14, 2024

Two Mysterious Whales Start Transferring Funds After 10 Years

Two Bitcoin wallets that have been inactive for over a decade suddenly moved 1,000 BTC, valued at approximately $60.9 million, within the past 20 minutes. These transactions have caught the attention of market analysts and traders alike, sparking curiosity and speculation about potential market impacts.

2 wallets that have been dormant for 10.7 years transferred all 1,000 $BTC($60.9M) out in the past 20 mins.

Wallet”16vRqA” received 500 $BTC($62K at that time) on Sept 13, 2013, when the price was $124.

Wallet”1DUJuH” received 500 $BTC($62K at that time) on Sept 12, 2013, when… pic.twitter.com/l5ivjrcRt5

— Lookonchain (@lookonchain) May 12, 2024

The wallets, identified as “16vRqA” and “1DUJuH,” each received 500 BTC in September 2013, when Bitcoin was priced at $124 per coin. This activity, reported by Lookonchain, raises questions about the motives behind the transfers and whether these movements could signal a significant shift in market dynamics.

The sudden reactivation of these long-dormant wallets may indicate upcoming volatility or strategic moves by influential holders, making it crucial for investors to stay informed and vigilant.

Bitcoin Price Prediction

Bitcoin (BTC/USD) is trading at $62,022, down around 1.50%, with a neutral Bitcoin price prediction. The 4-hour chart highlights a pivot point at $61,764, a critical level for traders to monitor. Immediate resistance is found at $63,824, followed by $65,506 and $67,222. On the downside, immediate support lies at $60,185, with further support at $58,812 and $56,640.

Technical indicators show that the Relative Strength Index (RSI) is at a neutral 50, suggesting no immediate overbought or oversold conditions. The 50-day Exponential Moving Average (EMA) stands at $62,023, closely aligning with the current price.

Bitcoin Price Prediction – Source: Tradingview

A symmetrical triangle pattern is forming around the $61,760 level, indicating potential volatility. This pattern suggests that Bitcoin could break out in either direction. On the lower side, a break below $61,764 could lead the price towards $60,185, with further declines potentially reaching $58,800 and $56,640.

Conversely, if Bitcoin breaks above $63,000, it could target resistance levels at $65,500 and $67,250. The outlook remains cautiously bullish above $61,765, but a break below this level could trigger significant selling pressure.

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