Key Insights
- Whale wallet adds 1,521 BTC in 30 days, signaling major accumulation during price weakness.
- Bitcoin tests 50-day SMA near $115K, with RSI showing declining momentum below neutral territory.
- Traders watch for BTC to hold above $115K or risk drop toward the $112K support zone.
Bitcoin (BTC) has shown signs of weakness on both hourly and daily timeframes, even as one large wallet continues to accumulate BTC at scale. The market remains on alert as price action tests key support levels and volume data signals ongoing volatility.
Large Whale Buys 1,521 BTC in One Month
Blockchain data shows that a single wallet has received a total of 1,521 BTC, worth around $179.4 million, over the past month. The most recent transaction occurred 11 hours ago and involved 300 BTC valued at $34.85 million. All transfers originate from a FalconX hot wallet and go to the same receiving address, confirming a consistent pattern of accumulation.
Notable past transactions include multiple entries above 100 BTC, with several exceeding 160 BTC. The repeated large-volume purchases suggest a longer-term accumulation strategy rather than short-term trading. “This whale just bought another 300 $BTC,” posted Crypto Rover, adding to speculation about the entity’s strategy and timing.
Price Action Falls Below $115,000 Level
Bitcoin price briefly broke below $115,000 during recent hourly sessions. The current price is $114,785, down nearly 1% over the past 24 hours and 3% over the past week. On the hourly chart, BTC dropped sharply from $117,500 to a low near $114,500, followed by a weak rebound. The bounce failed to reclaim momentum above $116,000.
Trading volume remains elevated, but the price structure reflects hesitation from buyers. Unless BTC regains and holds above $116,000, analysts believe more downside is possible. The breakdown below the $115,000 level may serve as a short-term bearish signal if follow-through continues.
Technical Indicators Suggest Bearish Momentum
On the daily chart, BTC has fallen below the 20-day simple moving average (SMA) of $116,680.26 and is currently testing the 50-day SMA at $115,864.87. A confirmed daily close below the 50-day average could set the stage for a potential move toward the $112,000 range.
The Relative Strength Index (RSI) stands at 44.55, below both the neutral 50 line and the signal line at 54.37. This signals weakening momentum in the short term. “RSI now below 50 is a red flag for trend strength,” one market watcher noted.
Market Eyes Whale Activity and Key Support Levels
Despite the weakening technical setup, the large whale purchases remain a focal point. The buying trend aligns with market weakness, suggesting potential strategic positioning. Whether this accumulation marks a bottom or anticipates further volatility remains uncertain.
Market participants are closely monitoring price behavior near the $115,000 mark. A sustained hold or breakdown from current levels will likely shape BTC’s short-term direction in the face of ongoing accumulation by large holders.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/179m-in-btc-bought-by-one-whale/