đ„đ„đ„ Top 3 Price Prediction: $BTC whales position themselves for pre-#halving pump
Bitcoin (BTC) price is on the verge of establishing a clear direction as the much-anticipated BTC halving event draws closer. Meanwhile, Ethereum ($ETH ) price is awaiting cues from Bitcoin, and Ripple ($XRP ) price is heavily influenced by ongoing legal developments.
Whale Movements Ahead of Halving
- In anticipation of the halving, large BTC holders have been making significant moves in the market. Notable whale activity includes:
A whale transferred 1,000 BTC worth $68.54 million from #Bitfinex to a new wallet. Another dormant address with 500 BTC valued at $34.72 million was activated after 11.7 years. Additionally, 1,500 BTC worth $103.08 million were moved from one unknown #Wallet to another.
Institutions and whales acquired 12,000 BTC primarily on Coinbase and Kraken, moving them to private wallets, contrasting small investors who sell during price spikes but buy during dips.
Bitcoin Price Outlook
- Bitcoin retested the March 27 low of $68,359, suggesting a possible end to the pullback. A rally towards $73,500 is possible if bulls seize momentum, with key supports at $67,651 and $67,302. Yet, a drop below $68,500 may intensify bearish pressure, targeting $63,500 before the halving event.
Ethereum and #ripple Price Analysis
- Ethereum's price faces resistance at the 50% Fibonacci level, indicating a potential downward trend towards $3,353 or $3,152 if Bitcoin's weakness persists. Ripple's price, on the other hand, remains above an ascending trendline but lacks bullish momentum, with support at $0.5783. A breakout above $0.6685 could drive gains towards $0.7000 and $0.7500.
In summary:
- BTC: Potential or a rally towards $73,500 if key support levels hold.
- ETH: Bearish sentiment may lead to a drop towards $3,353 or $3,152.
- XRP: Support at $0.5783 could be tested if selling pressure increases, while a breakout above $0.6685 may trigger further gains.
Source - fxstreet.com
