Bitcoin faces some familiar whale games into the U.S. economic reports as BTC price fails to find support above $70,000.) stayed indecisive after the April 9 Wall Street open amid a warning that macro data could spark further BTC price downside.Bulls continued to lack momentum to reclaim further ground toward current all-time highs of $73,800.
Analyzing order book data, trading resource Material Indicators drew attention to whales attempting to draw price lower in order to enter fresh long positions. The target timeframe, itin analysis on X , was the United States Consumer Price Index print, due for release on April 10.“If Wednesday's Core Inflation numbers are hot, they'll likely be able to extend the downside move.
"Bitcoin is thus sandwiched between the old All Time Highs of $69000 and the highs from two weeks ago of $71300 . There's scope for consolidation here going forward.", April 9 saw a net outflow of $200 million, driven mostly by a large outflow from the Grayscale Bitcoin Trust . This caught market observers off guard, and preliminary data for April 10 saw those GBTC outflows only accelerating.
The numbers from crypto intelligence firm Arkham, shared to X by popular trader Daan Crypto Trades, put them at around 6,200 BTC — the largest tally in dollar terms for several weeks.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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