BTC Stabilizes at $74,000: Whale Activity and Supply Zones Explained

According to recent insights from Glassnode, Bitcoin (BTC) appears to be stabilizing around the significant price level of $74,000. This support level aligns with a major supply zone positioned just below $80,000, where more than 50,000 BTC is concentrated at approximately $74,200. Notably, this price point is controlled by whales, who have actively managed their holdings over the past five months, carefully augmenting their cost basis until March 10th. Since that time, these large investors have exhibited a relatively dormant trading behavior, making the current price action particularly intriguing. As market observers monitor these pivotal levels, the sustainability of this support could significantly dictate BTC’s short-term trajectory in the ever-evolving cryptocurrency landscape.