Bitcoin (BTC) price has been rejected by two subtle and important resistance in the last 24 hours. The flagship coin tried to redeest a meeting on Thursday on the re -testing of his all time, but the profits were erased on Friday.
According to Crypto data provided by Coingecko and TradingView, the BTC prize fell by 2.2 percent in the last 24 hours to act at around $ 107,477 on Friday 4 July during the American Trade Session of Mid-North.
Why Bitcoin price fell today
Bitcoin prize experienced turbulent volatility on Friday that was largely caused by the re-preparation of the whales of the Satosh era. According to data analysis on chains, the whales of Satoshi era have moved more than $ 8 billion in BTC for the past 24 hours.
Resisting the old whales in the middle of the low demand, as Coinpedia reported, spelled Bearish Sentiment. In the meantime, the BTC price has fed the past of the Bearish sentiment by a low speculative interest.
“The momentum of the exchange volume has fallen since the beginning of June, with the monthly average fell to $ 5.9 billion, about 7 percent above the annual average of $ 5.5 billion,” Glassnode noted.
Interim expectations for BTC price
In the weekly period of time, the BTC price has re -tested the resistance level around $ 109,396 since December 2024. Although the weekly relative strength index (RSI) forms a Bearish divergence, the chance of a bullish breakout cannot be overlooked.
Moreover, the BTC price could form a cup and process a pattern in the weekly period, so an outbreak to a new all time high on the horizon.
In the daily age of time, the BTC price forms a falling trend, characterized by lower lows and lower highlights. With the daily MACD indicator signaling that Bullish Momentum takes, a potential seems to be back to the lower edge of the falling trend, probably below $ 101k.