Bitcoin struggles to sustain gains, dropping below $70K.
Whale activity sparks concern, but accumulation trends suggest potential bullish recovery.
Bitcoin (BTC) recently faced a sharp decline after touching impressive highs. On 30 October, BTC surged to $73,500, continuing its pattern of “Uptober” gains. However, it failed to sustain momentum, slipping below the crucial $70,000 level. As of now, Bitcoin is trading around $69,561, reflecting a slight 0.07% uptick in the past 24 hours, while trading volume has dropped by 0.65%, according to CoinMarketCap data.
Over the past week, Bitcoin recorded a 4% increase. Still, bearish sentiment crept back into the market following a significant 4% drop over the past 24 hours, likely influenced by whale activity. Whale Alerts reported a massive transfer of 8,000 BTC (valued at $567 million) from an unknown wallet to Coinbase. Typically, such movements can spark concerns about sell-offs, but on-chain analysis from Lookonchain su
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