Bitcoin News: Whales Stop Selling, Indicating Potential Price Rise Despite Current Resistance

Recent developments in the Bitcoin market suggest a shift in the behavior of major holders, which could impact the cryptocurrency’s future price trajectory.

Bitcoin Whales Stop Selling – 290K BTC Offload Signals Rising Accumulation

Bitcoin is trading steadily above the $85,000 mark, but upward momentum remains limited as the $88,000 to $91,000 liquidity zone acts as a major resistance. This range, which previously supported price action, has now flipped into a critical barrier. Trade war fears and rising global economic tensions continue to weigh on investor sentiment, contributing to increased volatility. On-chain data from CryptoQuant reveals a notable shift in supply dynamics, with Bitcoin whales stopping selling, signaling potential accumulation. Until a decisive breakout occurs, Bitcoin may remain range-bound.

Simplifying Crypto Payments Using TradFi to Drive Adoption

Traditional banking methods are joining digital payment systems, reducing friction and simplifying crypto transactions. Enhanced security and clear rules are boosting user confidence. This approach may also widen access in underserved areas. Analysts in 2024 predicted that Bitcoin (BTC) could emerge as a major payment method, supported by shifting regulations and increasing infrastructure. According to EMARKETER, crypto payment adoption was expected to grow by 82.1% over two years, starting in 2024. A Bitget Wallet report highlighted security concerns as the biggest barrier to crypto payment adoption.

Bitcoin Faces Pressure After Massive Long Position Wipeout

Bitcoin continues to show signs of price consolidation, hovering just below the $87,000 mark. As of today, BTC is trading at approximately $86,990, reflecting a 0.8% decline over the past 24 hours. Despite the slight dip, Bitcoin has stabilized above $85,000 for several consecutive sessions, signaling a pause in the strong momentum observed in previous weeks. CryptoQuant contributor Amr Taha recently revealed the liquidation of $359.7 million worth of long positions, drawing attention to potential shifts in sentiment.

Gumi to Hold $106k BTC Lottery for Shareholders

The Bitcoin-keen Japanese game developer Gumi has announced it will hold a $106,000 BTC lottery event for new shareholders. The lottery is being held as a perk for shareholders investing in the Tokyo Stock Exchange-listed company during the current financial year, which ends in April 2025. Gumi is partnering with the Japanese crypto exchange SBI VC Trade for the lottery event. Eligible participants include those with 500 or more shares.

Bitcoin Bet Grows Bigger: The Blockchain Group Snaps Up 580 BTC

The Blockchain Group, a France-based blockchain solutions firm, recently announced its largest Bitcoin (BTC) purchase to date, acquiring 580 BTC for approximately $50.64 million at an average price of $88,020 per coin. This marks the company’s third BTC acquisition since it began buying the digital asset in November 2024. The purchase was made through its Luxembourg-based subsidiary and was financed through proceeds raised from a convertible bond issuance announced on March 6. The move aligns with the firm’s Bitcoin Treasury strategy.