This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Bitcoin (BTC) has recently experienced a surge in whale activity, causing a stir in the crypto community. Whale Alert, a crypto tracker, reported several large transfers of BTC from unknown wallets to exchanges such as Binance and Coinbase.
Binance received a whale inflow of over $67 million, while Coinbase received a whopping 7,515 BTC. The transactions involved multiple wallets and totaled millions of dollars.
Despite the increase in whale transactions, there is no solid evidence that these transfers have had any effect on the price of Bitcoin.
Cryptocurrency analyst Ali Martinez has shared key support and resistance levels for BTC. He believes that BTC will find solid support between $37,150 and $38,360, backed by 1.52 million addresses holding about 534,000 BTC. He also highlighted two resistance walls at $43,850 and $46,400.
Currently, BTC is sitting at $41,380, indicating a 1% decline in the last 24 hours. Its market capitalization is approximately $809 billion.