On July 4, Bitcoin's price fell below the crucial $108,000 mark, down 1.6% on the day, as long-dormant coins linked to a single whale entity moved on-chain. This event coincided with rumors connecting the transactions to Bitcoin's creator, Satoshi Nakamoto. The market reacted nervously, especially as trading volumes were affected by the US Independence Day holiday. Bitcoin traded at $107,564 before a slight recovery, continuing a trend following a rejection at $110,000. Monitoring resource Lookonchain confirmed the whale's significant activity, with over $8.69 billion involved, sparking concerns about potential sales of the old coins. Analysts noted a buildup of BTC short positions and a spike in “toxic” order flow. The ability to sustain above the diagonal support from recent all-time highs remains pivotal, as highlighted by trader Rekt Capital, who warned of potential risks to the bullish trend if Bitcoin fails to maintain its position above key resistance levels.

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