Bitcoin price at ‘critical’ point as whale moves $348M BTC to exchanges
Cointelegraph
Bitcoin faces a critical juncture near $81,500 support, amplified by a whale moving $348M BTC to exchanges.Summary
Bitcoin's price is at a crucial moment, testing the True Market Mean (TMM) support level of $81,500, which represents the cost basis of non-dormant coins. If this level is lost, analysts fear a sharp break below, potentially leading to a bear market, similar to the 61% drop seen after it broke in May 2022. The market is also seeing significant selling pressure, as two wallets linked to Matrixport transferred about 4,000 BTC, valued near $347.6 million, to the Binance exchange, suggesting an intent to sell or hedge. Furthermore, the AVIV Ratio indicates the market is at a level defining past mid-cycle transitions, suggesting consolidation or a bear market confirmation is imminent.
(Source：Cointelegraph)