A large amount of long-dormant Bitcoin, approximately 14,000 BTC worth over $1.3 billion, has been transferred by whales after 7 to 10 years of inactivity. However, analysts believe that these coins are not intended for immediate sale as they have not been deposited on exchanges. The movement of such old Bitcoin historically does not always result in a price drop, but the holders may be considering selling for a massive profit or repositioning their holdings. Additionally, Bitcoin has seen one of its largest exchange outflows in recent years, suggesting accumulation rather than selling by big investors and institutions. MicroStrategy has also expanded its Bitcoin holdings, further demonstrating institutional demand for the cryptocurrency. Despite these movements, Bitcoin's price has remained relatively stable at around $97,470. Analysts have identified key levels to watch, including the need to stay above $96,500 and reclaim $97,900 to maintain a bullish structure. Technical analysis indicates the formation of a falling wedge pattern on the 4-hour chart, with a potential target of $106,500 if Bitcoin breaks out of the pattern.



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