🚨 BTC/USDT Price Analysis
Bitcoin recently dropped below $61,000, leading to over $500 million in liquidations. This decline mirrors the U.S. stock market downturn, possibly due to rising tensions between Iran and Israel. Significant amounts of $BTC and $ETH ETFs were also sold off, causing market concern.
Despite the dip, Bitcoin has hit key support levels, with whale accumulation suggesting a potential reversal. In the past 10 days, whales have purchased over 50,000 BTC worth $3 billion, hinting at a bullish quarter. However, the rise in OTC desk balances, now at a 2-year high, signals a possible sell-off, which could slow any bull run.
Though the short-term outlook appears uncertain, the long-term trend hints at a potential parabolic move. Traders are advised to monitor the price action closely in the coming days.
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