The start of the week was challenging for Bitcoin. On Monday, amid a sharp decline in stock markets and investor concerns, the leading cryptocurrency briefly dropped below $50,000, sparking anxiety among traders and analysts.
However, on August 5-6, a significant increase in activity among large holders, known as whales, was observed on the BTC network. The number of transactions involving amounts from $100,000 surged to 28,319, while those exceeding $1 million rose to 5,738, the highest since May.
Addresses holding between 10 and 1,000 bitcoins were particularly notable. Their actions essentially became the catalyst for Bitcoin’s swift recovery, enabling it to quickly regain lost ground.
Analysts point out that a strong resistance zone is expected in the range of $66,200 to $66,900, where 600,000 BTC were previously acquired. This could be a key level for Bitcoin’s further price movement, and breaking through this zone may signal the possibility of continued growth. At the same time, if the resistance proves too strong, the market could face a correction, highlighting the importance of closely monitoring the actions of large players in the coming days.
