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>>Bhutan Offloads, Whales Accumulate: What’s the Next Direction for Bitcoin’s Price?

Bhutan Offloads, Whales Accumulate: What’s the Next Direction for Bitcoin’s Price?

crypthub

about 3 hours ago

Geopolitical Shift

The US‑Israel and Iran forces reached a tentative cease‑fire, though Israel remains skeptical. The agreement sparked brief optimism for regional stability. At the same time, former President Trump’s deadline threat faded after the deal.

ETF and Sovereign Flows

Spot Bitcoin ETFs saw a record $470 million net inflow on Monday, the strongest since February. Hours before the cease‑fire announcement, $159 million left the funds, followed by another $124 million the next day. Meanwhile, Bhutan transferred roughly 320 BTC, reducing its holdings by over 9,000 BTC since October 2024.

Whale Accumulation

Data from Santiment shows large holders added about 10,000 BTC in the past 72 hours, pushing total whale holdings to around 5.17 million BTC. This contrasts with the outflows from retail‑focused ETFs. The activity signals confidence among major market participants.

Price Outlook

Bitcoin jumped from $68.4k to $72.8k after the cease‑fire news and an Iran toll‑payment claim, then settled near $71k. Analysts warn the upside liquidity may have been exhausted and a drop toward $60k is possible. The CME gap and support‑resistance dynamics will guide short‑term moves.