What to know:
- Bitcoin price remains bearish after rejecting the key $82,800 resistance and confirming a lower-timeframe break of structure.
- Bitcoin risks falling toward $59,800, while a decisive breakdown could open the door to a deeper move toward $50,000.
- A Paxos-linked whale sold 800 BTC worth $50.7 million through Wintermute, adding fresh selling pressure to the market.
Bitcoin (BTC) remains under bearish pressure as failed resistance recovery keeps the broader trend weak. A critical retest zone could determine whether sellers regain control, while continued whale distribution through Wintermute adds further market pressure and raises concerns about renewed downside momentum.
At the time of writing, BTC is trading at $63,342.39 with a 24-hour trading volume of $19.4 billion and a market capitalization of $1.27 trillion. Despite the signs of stability over the last 24 hours, the BTC price structure and whale selling point to bearish pressure ahead.
Source: CoinMarketCap
Also Read: Bitcoin ETF Competition Grows With Goldman’s $2.25B Neos Deal
Bitcoin Price Structure Remains Bearish Below $82.8K
According to the crypto analyst Crypto Patel, Bitcoin (BTC) remains bearish on the higher timeframe after rejecting the $82,800 resistance and CHoCH threshold, followed by a confirmed bearish break of structure.
The $71,000–$74,500 region now stands as a critical retest zone, combining a bearish order block and fair value gap that could attract sellers during any recovery attempt from lower levels.
Source: Crypto Patel’s X Post
Failure of BTC to reclaim $82,800 with a convincing higher time frame close means that gains may be considered corrective in nature and not a trend reversal.
On the other hand, $59,800 is a critical level for any downside break, and if it happens, it will push BTC down towards $50,000. The price range between $71,000 and $74,500 needs to be watched.
Paxos-Linked Whale Sells 800 BTC Worth $50.7M
The data from Lookonchain further highlighted that a whale in Bitcoin tied to the Paxos network has unloaded 800 more BTC, which is equivalent to roughly $50.72 million, via Wintermute, according to blockchain records.
This trade happened around eight hours ago and continues the trend of selling activity coming from whales trying to readjust their holdings of Bitcoin.
Source: Lookonchain’s X Post
The whales have already sold 2,500 BTC that are worth an estimated $154 million over the last two months.
Any further selling will be watched carefully by traders since further selling may affect short-term sentiment. Traders will observe whether the whales will sell further or start to hold their Bitcoin holdings.
What Happens Next for Bitcoin?
The future movement of Bitcoin is going to be influenced by the retest of the $71,000-$74,500 level. The rejection of this range can take BTC towards $59,800 or even below $50,000 in case of breakdown.
However, its consolidation can relieve the bearishness. Another thing that traders will focus on is whales via Wintermute.
Also Read: Bitcoin Spot Volume Hits Lowest Since 2019 as $58,500 Support Weakens
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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