Bitcoin Price Update: Strong Support Tested Amid Whale Selling Pressure

Bitcoin's price currently hovers around $108,145 following a significant 7% increase over the last 24 hours. The cryptocurrency is testing a key market support level at $108,000 — a crucial barrier that may determine the next directional move.

However, recent whale activity shows substantial selling pressure, with over 40,000 BTC valued at approximately $4.3 billion sold this week. This large-scale selling by major holders is creating bearish sentiment, further backed by an increase in Bitcoin's liveliness metric, which indicates long-term holders are choosing to sell rather than accumulate.

If Bitcoin fails to hold the $108,000 support, prices could dip further toward critical support levels at $105,622 or even $102,734. On the upside, a push beyond resistance at $109,476 may trigger a rally aiming for the $110,000 mark.

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Stay updated and plan your next move carefully, taking advantage of platforms like Bitlet.app to optimize investment strategies while navigating Bitcoin's volatile landscape.