Bitcoin

when

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Dormant Bitcoin whales have reactivated, potentially sparking a push towards $73K.</li> 
 <li>Whales’ confidence in the market is crucial to prevent overheating and potential mass capitulation.</li> 
</ul>  
<p>A combination of macro factors has driven <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a> to $69K in just 10 trading days. </p> 
<p> This rally differs from previous ones as the bulls have been actively resisting bearish pressure.</p> 
<h2 id="a-bitcoin-whale-reactivates">A Bitcoin Whale Reactivates</h2> 
<p>A post on a social media platform revealed that a <a href="https://coineagle.com/price/bitcoin/">Bitcoin</a> wallet, inactive for over a decade, was recently reactivated. The wallet holds 25 BTC, valued at around $1.7 million.</p> 
<p> The reactivated wallet has held its 25 BTC since 2013, when Bitcoin’s price ranged from $100 to $266.</p> 
<p>This is the second time in two days that an old whale has resurfaced. </p> 
<p> The amount of BTC stored in dormant wallets has reached an all-time high of 19 million BTC. This equates to approximately $1.311 trillion at a price of $69K.</p> 
<h2 id="big-players-trust-is-crucial">Big Players’ Trust Is Crucial</h2> 
<p>An interesting pattern has been uncovered that could signal rising volatility in the market.</p> 
<p> Despite a massive sell-off, Bitcoin’s price action remained relatively stable, closing above $69K. This can likely be attributed to whale intervention, which absorbed much of the selling pressure.</p> 
<p>Whales play a critical role in this cycle. Their support is essential to prevent the market from overheating, which could potentially signal a top and trigger mass capitulation.</p> 
<p> However, if their confidence wavers, a retracement could be imminent.</p>

Bitcoin’s Stability Threatened as Ancient Whale Resurfaces Amidst $69K Highs

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CoinEagle.com

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