🐋 Can Whales Drive Bitcoin Above $68,000?
BTC holds above $60K as whale accumulation and Fed rate cut expectations weigh on the price.
📊 According to Spotonchain, only one giant whale has been actively accumulating Bitcoin since August 29. So far, it has bought about
3,933 #BTC (worth $234 million) via Binance, with the last withdrawal occurring yesterday at $59,591 per BTC.
📈 A potential breakout of the BTC price from the 7-week trend line resistance could support a quick 12% surge to $68K. However, resistance is forming at $65.8K, as over 6.84M addresses bought about 3.1M at this price. Therefore, the rise to $68K will be gradual with periodic pullbacks.
