Bitcoin Accumulation Surges Across Wallets as BTC Tests $61K Resistance
Bitcoin accumulation rises across wallet sizes as BTC tests $61K resistance, with key support and resistance levels in focus.
Bitcoin is showing fresh signs of accumulation as wallets of nearly every size shift back into buy mode. The change follows months of selling pressure tied to the recent price drop.
On-chain data points to retail holders and mid-sized whales leading the renewed buying activity. At the same time, BTC price is hovering near a key resistance zone.
Analysts are now watching whether this level holds through the next few trading sessions.
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Bitcoin Wallets Flip Back to Buy Mode Across the Board
Crypto analyst Ali Charts noted that accumulation has picked up across almost every wallet size over the last 30 days.
Retail investors holding less than 1 BTC have increased buying intensity, according to the analysis. Mid-sized whales holding between 10 and 100 BTC are also stepping up purchases at a similar pace.
Larger entities holding between 1,000 and 100,000 BTC have stopped selling as well, the analysis showed. Their buying pace remains slower and more cautious compared to smaller wallets.
Retail and whales are buying Bitcoin again, Source| AliCharts/X
Ali Charts pointed out that when small holders and large whales buy at the same time, it has historically signaled a strong price floor. That kind of coordinated buying often lays the groundwork for a longer recovery phase.
BTC Price Tests $61,000 as Traders Watch Key Levels
Bitcoin was trading at $60,743 as it tested the $61,000 resistance level for the second time, according to trader That Martini Guy.
A bounce from the $59,000 to $59,500 support zone suggested buyers were stepping back into the market. That Martini Guy said a reclaim and hold above $61,000 could open the door toward $63,500, the next major resistance area.
Data from CoinGecko showed Bitcoin priced at $60,213.27, with 24-hour trading volume reaching $41.27 billion at press time.
The figures reflected a 2.39% increase over the past day, alongside a 2.06% decline across the past seven days.
Losing the $61,000 level could bring another retest of the $59,000 region, That Martini Guy noted. The next several 4-hour candles were described as important for confirming direction.
Traders Brace for NFP Day Volatility Around $60K
Trader Lennaert Snyder shared updates on recent short positions taken near the range high.
Two exhaustion shorts were executed the previous day, with one stopped at breakeven and the other closed at a small loss.
A third short was opened near 60.8K on the following morning, with 25% of the position closed for profit before moving the stop to breakeven.
Lennaert Snyder pointed to a demand zone near 59.2K as an area for potential long entries, citing it as a value area low with visible market inefficiency. A loss of that zone could open the path toward new lows, with 55K mentioned as a possible target.
Additional short setups were flagged near the 61.4K to 62K region, an area with notable passive liquidity. Snyder cited the release of Non-Farm Payrolls data as a reason for added caution during the session.
The post Bitcoin Accumulation Surges Across Wallets as BTC Tests $61K Resistance appeared first on Live Bitcoin News.
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