- Bitcoin’s triple bounce on daily support confirms strong buying demand, maintaining an upward structure despite volatile institutional selling activity.
- Reports show $1.2B in Bitcoin sold by BlackRock, Binance, and the U.S. government ahead of Powell’s anticipated monetary address.
- A Bitcoin whale increased short exposure to $392M, indicating opposing sentiment as traders weigh chart strength vs. heavy sell pressure.
Bitcoin is on a precarious balance between a bullish technical structure and overwhelming selling pressure from institutions. The charts indicate a bullish formation and momentum to the upside, but reports have indicated a major entity liquidated $1.2 billion of Bitcoin within a 12-hour period.
Triple Support Bounce Reinforces Uptrend Structure
Crypto Spaces analyst FOUR (@X_Four_iv) shared a detailed chart showing Bitcoin’s triple bounce on a key diagonal support line. Each rebound, marked by green circles and arrows, demonstrated repeated rejection of lower prices. Traders often interpret such setups as confirmations of strong buying demand.
The pattern shows a clear series of higher lows, signaling that the broader trend remains intact despite market volatility. Buyers have consistently stepped in along this support, maintaining Bitcoin’s macro structure. According to FOUR, this structure sets the foundation for higher highs, as price action continues to respect the established demand zone.
The triple test of support forms what analysts describe as a “textbook bullish setup.”The daily timeframe supports this thesis with the implication that the market is about to make a potential run back toward former highs. That said, make no mistake that any breakdown below this support would quickly negate the bullish scenario.
Massive Bitcoin Selloff Raises Market Concerns
In contrast, Danny (@Danny_Crypton) reported that BlackRock, the U.S. government, and Binance collectively sold approximately $1.2 billion worth of Bitcoin over a 12-hour span. The timing of these transactions, just before Federal Reserve Chair Jerome Powell’s scheduled speech, raised questions across the crypto community about coordinated market activity.
Such large-scale movements from institutional and government-linked wallets often precede short-term volatility. Traders interpreted the sales as potential attempts to influence market sentiment before key macroeconomic remarks. The reported figures point to heightened caution among large holders amid upcoming policy statements.
Danny also noted a longtime Bitcoin whale increasing short positions to $392 million, suggesting that some market participants are positioning for further downside. The move added to uncertainty, prompting traders to closely monitor derivatives activity.
Market Divided Between Technical Optimism and Institutional Pressure
The current setup presents a clear divide between technical and fundamental forces. On one hand, the chart structure favors continued upward movement supported by strong daily trend integrity. On the other, institutional sell-offs inject uncertainty into short-term sentiment.
Traders now view Bitcoin’s diagonal support as the decisive line between continuation and correction. If the level holds, bullish momentum may resume with momentum traders targeting higher resistance zones. However, a sustained break below would open up wider liquidations, given that a large short exposure has recently been established.
As market players weigh all factors, Bitcoin is at a level where technical strength meets institutional strategy. The next session will provide clarity as to whether the bullish setup continues or whether mass selling prevails. to determine whether the bullish setup prevails or if large-scale selling dictates the next move.
