Bitcoin experienced a sudden drop on the news that a dormant whale transferred 80,000 BTC, valued at approximately $8.6 billion. This movement sparked panic among traders, causing Bitcoin's price to fall from over $109,000 to around $107,500. Despite this, technical indicators suggest a bullish long-term outlook. The Average Directional Index shows potential for continued strength in the market, and Bitcoin is trading above the 50-day and 200-day Exponential Moving Averages, confirming an uptrend. The Relative Strength Index indicates upward momentum, though the current price action has prompted profit-taking among short-term traders. Immediate resistance levels are noted at $110,000 and $115,000, while support is present at $105,000 and $100,000, indicating a complex market dynamic influenced by both whale activity and technical factors.

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