- Bitcoin is currently trading at $26,855 with a 0.65% decrease.
- A break below $26,750 could bring further price drops.
- Large Bitcoin transfers were seen on Monday.
Bitcoin price dropped below $27,000 early in the day, so what’s next for BTC?
Current Status of Bitcoin Price!
Bitcoin is currently trading at $26,855 with a 0.65% decrease. The drop that started early in the day deeply affected the cryptocurrency market.
BTC has formed a decreasing channel with support near $26,850 on the two-hour chart.
There is also a potential support level of around $26,750 shown with a double bottom formation.
This range is important for Bitcoin’s upward trend as long as it stays above $26,750 within the channel.
The two leading technical indicators, RSI and MACD, are currently in the neutral zone.
Bitcoin’s price fluctuates above and below the 50-day exponential moving average, reflecting mixed investor sentiment.
Today, $26,750 is critical. A break below $26,750 could lead to a drop towards $26,200.
Large Transfers in Bitcoin!
More than $627 million worth of Bitcoin (BTC) was transferred to two unknown wallets from Coinbase, the largest cryptocurrency exchange in the US, on Monday morning.
According to blockchain data, two transfers, one worth $316.3 million and the other worth approximately $311.2 million, occurred simultaneously, suggesting that there may be a single whale behind them, although chain-top data is not conclusive as there are two separate addresses.
According to Blockstream, both addresses were activated on Monday and emptied all their Bitcoin assets into exactly 100 different wallets at the same time, about 10 minutes later.
Other significant Bitcoin whale transactions on Monday include:
- 1,633 BTC worth more than $44.5 million transferred from an unknown wallet to Coinbase
- 1,633 BTC worth more than $44.56 million transferred from an unknown wallet to Coinbase
- 1,739 BTC worth more than $47.67 million transferred from an unknown wallet to Coinbase
- 804 BTC worth more than $22 million transferred from Binance to an unknown wallet
- 1,627 BTC worth more than $44.64 million transferred from an unknown wallet to Coinbase
- 1,627 BTC worth more than $44.64 million transferred from an unknown wallet to Coinbase
