The post Bitcoin Rally At Risk? BTC Could Decline To $74,000 Even As Whales Load Up Long Positions appeared on BitcoinEthereumNews.com.

After several days of volatility due to a general market decline, Bitcoin is finally seeing upside momentum. Thus far, the flagship asset has reclaimed the pivotal $105,000 price level and is targeting higher highs. While BTC regains traction, certain developments might cause a notable pullback in the upcoming weeks. A Potential Drop In Bitcoin’s Price Amid Whale Optimism Alphractal, an advanced on-chain data analytics and investment platform has outlined a development that could trigger a pullback for Bitcoin in the short term. The platform claims BTC’s price momentum faces a potential retracement to the $74,000 level, even as whale investors keep adding to their long positions. This prediction by Alphractal shows that short-term price declines are a possibility in light of heightened accumulation by high net-worth investors. As the crypto asset gradually moves upward, this forecast raises worries about whether BTC can sustain its renewed uptrend. Presently, Bitcoin’s price has increased and is back above the $105,000 level. Examining the whale activity at this point using the Whale Vs. Retail Ratio, Alphractal revealed that large investors are more interested in long positions than retail investors. Whales investors adding more longs position | Source: Alphractal on X A rise in whales’ interest in long positions indicates heightened optimism and confidence in BTC’s long-term price performance. Furthermore, it suggests that big investors are capitalizing on recent dips while retail investors appear to be more cautious and less exposed to leveraged longs. One important aspect Alphractal highlights to monitor in the metric is the large gap with low trading volume in Bitcoin between $74,000 and $86,000. Meanwhile, the platform anticipates a pullback to this range in the upcoming weeks should the current price recovery fail to hold. At this point, the asset will seek consolidation and liquidity formation. Recent Uptrend To Continue To…

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Filed under: News - @ January 31, 2025 7:21 pm