Are Whales Blocking Bitcoin’s Rise? Here Are the Key Resistance Levels Where They Are Selling

Recent analyses of Bitcoin’s price in the cryptocurrency market point to a significant resistance zone. According to a report based on CryptoQuant data, Bitcoin could face strong selling pressure between $71,000 and $81,000.

According to the analysis, the main reason for this resistance zone is the weakening demand from large-scale investors. Specifically, “whale” wallets holding between 1,000 and 10,000 $BTC have become net sellers, with their total assets decreasing by approximately 188,000 $BTC in the past year. This is considered a significant factor that could limit upward movements in the market.

In addition, a noticeable slowdown in the buying appetite of medium-sized investors is observed. The negative turn in Coinbase Premium, one of the indicators of spot demand in US markets, reveals that buyers are weak in this region.

Analysts also note that institutional investors are shifting towards ETFs and futures products instead of directly buying Bitcoin. This trend is highlighted as a factor reducing direct price support in the spot market.

According to experts, even if the Bitcoin price starts rising again, it may encounter strong resistance between $71,500 and $81,200. Therefore, investors are advised to be cautious in short-term price movements.

*This is not investment advice.