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<p>A whale known as “Whale bc1qg” has been making compelling moves for about four days. According to data from SpotOnChain, this whale bought approximately 1,381 <a href="https://captainaltcoin.com/bitcoin-dip-attracting-crypto-whales-pepe-unchained-ico-hits-12-million/" target="_blank" rel="noopener noreferrer nofollow">BTC</a> in the last 4 days from Binance.&nbsp;</p>
<p>The whale’s purchase comes at a very critical time as Bitcoin flutters around a demanding support level. However, crypto expert WorldofChart shared his prediction, claiming Bitcoin will only start a bullish wave after it breaks the falling wedge resistance of 57k.</p>
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<h2 class="wp-block-heading" id="whale-activity-and-market-impact">Whale Activity and Market Impact</h2>
<p>In the last 4 days, <a href="https://platform.spotonchain.com/en/signal-details/whale-further-withdrew-236129-btc-1318m-from-binance-169101" target="_blank" rel="noopener noreferrer nofollow">the whale has spent $78.25 million to acquire 1,381 BTC.</a> This purchase was made in eight separate transactions from Binance, averaging a withdrawal price of $55,664.&nbsp;</p>
<p>Most notably, 478.339 BTC was accumulated within the past 20 hours at an average price of $56,130 ($26.85 million). The most recent transaction involved a withdrawal of 236.129 BTC at $55,806.</p>
<figure class="wp-block-image aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="1016" src="https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-1024x1016.png" alt="" class="wp-image-552362" style="width: 100%;height:auto" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-1024x1016.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-300x298.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-150x150.png 150w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-768x762.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-1536x1525.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-2048x2033.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-151x150.png 151w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-100x99.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-353x350.png 353w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152-788x782.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-06-160152.png 672w" sizes="(max-width: 1024px) 100vw, 1024px">
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  Image Source : <a href="https://platform.spotonchain.com/en/signal-details/whale-further-withdrew-236129-btc-1318m-from-binance-169101" target="_blank" rel="noopener noreferrer nofollow">SpotOnChain</a>
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<p>As a result of these buys, large-scale movements often reduce sell-side liquidity. This can increase buy pressure as fewer coins are available for sale, amplifying the potential for a price rally. Additionally, whale accumulation typically indicates long-term confidence in<a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noopener noreferrer nofollow"> Bitcoin’s price </a>performance.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/expert-predicts-kaspa-kas-price-could-hit-5-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Expert Predicts Kaspa (KAS) Price Could Hit $5: Here’s Why</a></em></strong></p>
<h2 class="wp-block-heading" id="bitcoin-testing-key-support-levels">Bitcoin Testing Key Support Levels</h2>
<p><a href="https://x.com/WorldOfCharts1/status/1831973782191559159" target="_blank" rel="noopener noreferrer nofollow">Crypto analyst WorldofCharts</a> shared with his followers that Bitcoin is currently testing the $55,300-$55,600 support zone, a demanding area for the cryptocurrency’s next move.&nbsp;</p>
<p>The analyst stated that Bitcoin is moving within a falling wedge pattern, and if Bitcoin holds this support, the price could bounce toward the wedge’s upper resistance around $57,000.</p>
<p>WorldofCharts explained in a tweet, “Bitcoin will only start a bullish wave after breaking the falling wedge and can test the $61,000-$62,000 area.” This forecast aligns with the whale’s large withdrawal, suggesting confidence in a potential price surge.</p>
<p>Finally,<a href="https://captainaltcoin.com/why-is-the-crypto-market-crashing-today-bitcoin-price-dips-to-55k/" target="_blank" rel="noopener noreferrer nofollow"> Bitcoin is poised to break above the $57,000</a> resistance level; it is expected to target the $61,000-$62,000 range, as predicted by WorldofCharts. This price movement would complete the falling wedge breakout and mark the beginning of a new bullish wave.&nbsp;</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/heres-what-bitcoin-bulls-need-to-do-for-a-btc-rally-to-68k/" target="_blank" rel="noopener noreferrer nofollow">Here’s What Bitcoin Bulls Need To Do For a BTC Rally To $68K</a></em></strong></p>
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<p>The post <a href="https://captainaltcoin.com/this-bitcoin-whale-is-buying-the-dip-crypto-trader-predicts-62k-for-btc-next/" rel="noopener noreferrer nofollow">This Bitcoin Whale Is Buying the Dip! Crypto Trader Predicts $62k for BTC Next</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

This Bitcoin Whale Is Buying the Dip! Crypto Trader Predicts $62k for BTC Next

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