Bitcoin whales have been selling or redistributing a significant amount of BTC, totaling approximately 60,000 BTC with an estimated value of $2.22 billion. There are concerns that Bitcoin may retrace to $20,000 or below due to regulatory changes, macroeconomic influences, and the unpredictable nature of cryptocurrency markets. If bulls surpass resistance at $37,033.37, the BTC price may challenge the upper resistance at $38,082.91. On the other hand, if bears dominate, the price could retreat to test support at $36,000 and potentially drop further to the crucial support level at $33,429.29.
AI Sentiment: Negative