Bitcoin Whale Accumulation Amid $90K Resistance
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Bitcoin's price action continues to face significant resistance at the $90,000 level, reflecting ongoing market indecision despite recent bullish momentum. The failure to establish a firm foothold above this psychological threshold suggests potential profit-taking or distribution pressure from earlier positions, creating a battleground for directional conviction.
However, notable accumulation patterns are emerging beneath the surface. According to Blockstream CEO Adam Back, a 'Bitfinex whale' is reportedly purchasing approximately 450 Bitcoin daily, effectively absorbing the entire daily mining supply at current rates. This sustained institutional-grade accumulation, while price struggles at resistance, creates an intriguing divergence between technical resistance and fundamental demand signals that warrants close monitoring.
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