BTC Price Struggles Below Key Level as Bitcoin Whale Transfers Spike

TLDR:

  • BTC price fails to break $123K level amid rising sell pressure.
  • Whale exchange transfers near yearly highs, signaling possible distribution.
  • BTC trades around $117K despite high daily trading volume.
  • Resistance zones and on-chain data suggest short-term caution for bulls.

Bitcoin is facing heavy pressure near a critical price level as large holders ramp up exchange activity. The second Alpha Price level, a key resistance zone, has capped recent gains. 

Meanwhile, whale transfers to exchanges are nearing yearly highs, signaling possible profit-taking. These two developments suggest that Bitcoin may be losing momentum in the short term. Market sentiment appears cautious as price action stalls and volume patterns shift.

BTC Price Stuck Below Resistance

Bitcoin failed to break through its second Alpha Price level, currently set near $123,370. This level updates daily based on real-time on-chain flows. 

According to Joao Wedson, the Alpha Price blends key valuation metrics to identify potential support and resistance points. These thresholds often act as market reaction zones. Failing to clear the upper Alpha band suggests growing sell-side pressure.

The next major resistance range sits between $143,000 and $146,000, but Bitcoin must first reclaim the current Alpha cap. Until then, buyers may remain hesitant. A temporary dip below $120,000 could be needed to reset market positioning.

Whale Activity Signals Capital Rotation

On-chain data from Glassnode reveals rising Bitcoin transfers from whales to exchanges. The 7-day moving average is now approaching 12,000 BTC. 

This level mirrors a previous spike in November 2024, often tied to distribution phases. While still below last year’s peak, the current trend points to increased liquidity movement.

Large transfers to exchanges are typically linked to profit realization or capital rotation. When whales move assets onto exchanges, it often leads to higher sell-side pressure. The timing aligns with Bitcoin’s struggle near key resistance.

BTC Price Action Slows Amid Heavy Volume

According to CoinGecko, Bitcoin trades at $117,670, reflecting a modest 24-hour drop of 0.73%. Over the past week, the price has slipped just 0.09%. 

BTC price on CoinGecko

Despite minimal change, trading volume remains high at over $56 billion. This suggests active repositioning rather than calm accumulation.

Price stagnation near resistance, combined with elevated volume and whale activity, points to short-term caution. Bulls may need fresh momentum to push higher.

If Bitcoin clears the Alpha Price ceiling, the door opens toward the $140,000 range. Until then, sideways action or minor pullbacks seem likely. Traders will be watching exchange inflows closely, as sustained whale transfers could weigh on price.

For now, Bitcoin remains trapped beneath resistance, with capital movement suggesting that some large players are adjusting their positions.

 

The post BTC Price Struggles Below Key Level as Bitcoin Whale Transfers Spike appeared first on Blockonomi.

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