Satoshi-Era Whales Resurface as Bitcoin Eyes $145K Breakout

Two dormant whales moved over $324M in BTC after a decade, signaling renewed interest amid Bitcoin’s push toward $145K.

Bitcoin continues its bullish climb with analysts predicting a 76% chance of upside despite potential FOMC-driven pullbacks.

Technical indicators show strong support, rising volume, and a projected target near $145K as bullish momentum gains strength.

Two dormant Bitcoin whales just stirred the market by moving over $324 million worth of BTC after more than a decade. According to Spot On Chain, these Satoshi-era wallets became active within a span of three hours. Whale “1NWPS” transferred 2,343 BTC, worth around $222.2 million, after 10.5 years. Meanwhile, whale “1PiEK” moved 1,079 BTC, valued at $102.5 million, after being inactive for 11.75 years. These movements have sparked widespread speculation, especially as Bitcoin hovers near $94,000 with bullish momentum.

Strong Uptrend Outweighs FOMC Reversal Risks

Astronomer, a notable crypto analyst, remains firm on a bullish outlook for Bitcoin despite potential FOMC-induced pullbacks. His recent analysis, backed by over 85% past accuracy, suggested a short-term top. However, he stressed that long-term quarterly uptrends typically overpower monthly countertrends like FOMC reversals.

Hence, he forecasts a 76% probability of further upside, with only a 24% chance of a minor correction. Additionally, he emphasized on managing risk over reacting emotionally. His stop-loss strategy and compounding tactics remain aligned with this bullish scenario.

Moreover, Astronomer warns against prematurely exiting positions. He considers that a critical mistake, especially when the broader trend remains upward. His message is clear: traders should respect long-term mechanics while using short-term dips to strengthen positions.

Technical Structure Signals Higher Targets

Bitcoin’s 2-day analysis on TradingView highlights its steady climb from $28,000 in mid-2023 to $94,395 today. Price action shows consistent respect for major support and resistance levels. The $83,063.9 level, for instance, acted as a key foundation before the latest rally.

Source: Astronomer

Besides, volume activity also supports the trend. March 2024 logged the highest concentration at 5.04 million BTC over 10 days. A fresh breakout above $94,591.8 now targets the green projection zone around $144,890.6.

Consequently, this structural breakout aligns with Astronomer's broader outlook. If history repeats, short-term pullbacks will likely become opportunities rather than threats. Moreover, the recent whale movements could reflect strategic repositioning for Bitcoin’s next major leg higher.

The post Satoshi-Era Whales Resurface as Bitcoin Eyes $145K Breakout appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.