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>>Bitcoin veteran Owen Gunden makes his final deposit of 2,499 BTC (approximately $228 million) to Kraken.

Bitcoin veteran Owen Gunden makes his final deposit of 2,499 BTC (approximately $228 million) to Kraken.

crypthub

3 days ago

Market Sentiment and Price Action

Bitcoin is trading below $92,000 as selling pressure intensifies and key support levels have broken. The rapid rise in downside volatility and capitulation among short‑term holders point to market exhaustion. Analysts fear a new bear phase, with sentiment shifting toward the bearish end of the spectrum. Volume remains high on downswings, indicating conviction behind the sell‑off.

Whale Activity and Contrasting Views

Owen Gunden deposited his remaining 2,499 BTC into Kraken, sparking speculation about a large‑scale sell‑off. While such moves can amplify fear, similar whale deposits have historically appeared near cycle bottoms. Some analysts argue the correction mirrors mid‑cycle retracements and that macro conditions still support Bitcoin. They see a potential local bottom forming as weak hands exhaust.

Technical Outlook

The 4‑hour chart shows lower highs and lower lows, with the 50, 100 and 200 SMA all above price, confirming a short‑term bearish structure. Price struggles to reclaim the $92 K zone, which now acts as resistance rather than support. A decisive move above $95 K and a break of the 100 SMA would be needed for a structural shift. Until then, consolidation or further downside remains likely.

Bitcoin veteran Owen Gunden makes his final deposit of 2,499 BTC (approximately $228 million) to Kraken.

Market Sentiment and Price Action

Whale Activity and Contrasting Views

Technical Outlook

Bitcoin veteran Owen Gunden makes his final deposit of 2,499 BTC (approximately $228 million) to Kraken.