Bitcoin's Long-Term Holders Move 20,000 BTC in 96 Hours

Bitcoin, the world's leading cryptocurrency, has witnessed a significant shift in its market dynamics as over 20,000 BTC have moved out of long-term holder wallets within the past 96 hours. This substantial transaction volume has raised questions about potential changes in investor sentiment and the broader trend of the crypto market.

Historically, such transactions have signaled potential shifts in investor sentiment, as long-term holders are typically viewed as stabilizing forces in the crypto market. The withdrawal of a substantial amount of Bitcoin raises questions about whether it marks the beginning of a broader trend or isolated selling pressure.

Bitcoin is currently trading at $97,314.78, showing a 0.78% daily gain. It has moved within a narrow range, hitting a 24-hour high of $97,879.28 and a low of $97,160.42. While the market sentiment remains moderately bullish, BTC faces resistance at $102,433.41, with stronger resistance forming near $108,458.84. If Bitcoin breaks past these levels, a rally could extend further. On the downside, critical support is at $92,814.40, and if that's broken, BTC could test $91,266.16.

The 20-day EMA (Exponential Moving Average) sits at $97,902.91, recently seeing a bearish crossover, indicating short-term selling pressure. The 50-day EMA at $99,383.27 is a crucial resistance, while the 100-day EMA at $100,351.94 and 200-day EMA at $100,011.72 further define Bitcoin's trend structure. Currently, BTC is trading below the 50-day and 100-day EMAs, suggesting short-term weakness. However, a move above $99,000 could confirm renewed bullish sentiment.

Momentum indicators reveal neutral to slightly bearish pressure. The Relative Strength Index (RSI) is at 45.64, putting it in a neutral zone, meaning BTC is neither overbought nor oversold. If RSI moves