Dormant BTC Wallets Making Historic Moves; Will This Impact Bitcoin Price?

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The surge in dormant BTC tokens changing hands might significantly affect Bitcoin's price. Historically, increased activity among dormant tokens has often preceded periods of heightened price volatility in cryptocurrency markets.According to Ali, the increased surge in dormant BTC tokens being traded might signal a potential increase in price volatility ahead.

In a separate tweet, Ali reported that over 25,000 Bitcoins, worth about $1.60 billion, were moved to accumulation addresses, the greatest influx to these BTC wallets this year and indicating increased whale activity.fell to a low of $60,771 in the last week and is now trading at $64,809, with market observers expecting further volatility in the short term. , while it is down 12.2% from its all-time high of $73,798 set on March 14.

According to Ali, critical Bitcoin support levels to watch include $61,100, $56,685 and $51,530. On the other hand, significant resistance points for BTC are $66,990 and $72,880.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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