The price of bitcoin was given a massive drop to a four -month earlier this week and is about seven large more now.
Analysts believe that he could continue to climb and reach $ 90,000 as long as it remains above the level of support of $ 84,000, which is tested now.
Buying whales, BTC rising
Large BTC portfolios, generally called whales or sharks, are crucial for active prices movements because of their ability to buy or unload massive parts in a fairly short time which could have an impact on the entire market.
After months of accumulation before and during the race around $ 110,000, they changed their position in early February following Trump’s prices against several countries. Inevitably, the BTC price fell and its last background arrived earlier this week with a drop of less than $ 77,000 – a four -month lower.
During this correction, however, whales and sharks reversed their strategy once again and started again accumulation more assets. The last days of business week have seen another wave of purchase, with more than 20,000 BTC in their portfolios, according to Ali Martinez, who cited health data. In terms of USD value, this reserve is worth nearly $ 1.7 billion.
Whales bought more than 20,000 #Bitcoin $ BTC In the last 48 hours! pic.twitter.com/5e6elyein
– Ali (@ali_charts) March 14, 2025
Popular analyst said Its 130,000 subscribers on X that Bitcoin could drop to $ 90,000 as long as the support of $ 84,000, which is tested at the time of the press, holds.
Run in lever?
Although the whales buy substantial portions of BTC in a few days could indeed have an impact on the price of Bitcoin, as well as the entire market, which has leapped since Thursday, Maartunn of Cryp October described another possible reason behind the rescue rally.
He noted that the open interest of Bitcoin had increased by approximately 13% compared to recent discounts and now has nearly $ 28 billion. Consequently, he warned that this thrust could be motivated by a large number of lever effects, which is a double -edged sword. In the event of a BTC quick price accident, these long lever could lead to a huge liquidation cascadeAs we have seen a few times since the February correction.
Lever effect pump!
Bitcoin’s open interests amounted to $ 27.9 billion, marking an increase of $ 3.3 billion (+ 13%) compared to its recent lower. pic.twitter.com/e2naisq132
– Maartunn (@ja_maartun) March 14, 2025
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(Tagstotranslate) Bitcoin (BTC) Price (T) Bitcoin Whales
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