Krutika Adani
The price of Bitcoin will be greatly affected by whale transfers, waning retail demand, and the possibility of a deep correction between 5% and 7%.
The 8000 BTC transaction and numerous others in the current and last month signal that old whales have been waking up.
Despite a strong ETF performance, Bitcoin's retail demand has shrunk, causing price stagnation and a possible consolidation.
Despite the reduction in supply caused by Bitcoin's Halving, miner sales have kept BTC prices down.
Top crypto analyst Michael van de Poppe suggests a potential correction might bring Bitcoin's price to $64k.