Bitcoin Breaks Out — But Whale Slowdown Signals a Pullback Ahead of Next All-Time High
Bitcoin's price is rising, but decreasing whale activity and slowing exchange outflows suggest a potential pullback before reaching a new all-time high.Summary
Bitcoin's price has increased by 3.2% in the last 24 hours, with a 5% gain over the past month, indicating improving momentum. However, analysis reveals potential headwinds: the number of whale entities (wallets holding 1,000+ BTC) has dropped to a three-month low, suggesting profit-taking by large holders. Simultaneously, Bitcoin outflows from exchanges have slowed by approximately 51% since October 15th, indicating waning buying intensity. Despite these factors, the Relative Strength Index (RSI) shows a bullish divergence, and Bitcoin has confirmed a falling wedge breakout, currently testing resistance around $117,600. A break above this level could lead to gains towards $134,100, while failure to hold above $112,200 could trigger a pullback to $103,500.
(Source：BeInCrypto)