Bitcoin News: Shocking $90 Million Bitcoin Transaction Sparks Market Frenzy: BTC Eyeing $90K?

A mysterious Bitcoin transaction on the world’s largest exchange has shaken the crypto world. 1050 BTC, worth $90 million, were moved from Binance to an unidentified wallet. The whale activity, which was flagged by blockchain monitoring service Whale Alert, originated from Binance and was directed to a wallet address labeled “bc1qcpflj68’. The address has been linked to numerous large transactions with other unknown wallets, with over 223 transfers to its name.

Investors Question Timing of Whale Bitcoin Transaction

The timing of this Bitcoin transaction coincides with the coin’s bullish momentum, as it hit an intraday high of $88,500 on April 2. Experts debate that the transfer may indicate accumulation by a whale investor or institution preparing for long-term holding. Such movements usually reduce selling pressure on the exchange, supporting upward trends. Investors observe this as a potential signal of growing confidence in Bitcoin’s growth, with some even predicting that it could get back to $90,000+ levels.

Large-Scale Bitcoin Transfer Not the First For Binance

While the motives behind this transfer remain unclear, similar large-scale withdrawals suggest a shift toward storage. This helps whale investors secure assets offline. This transfer succeeds a similar transfer that took place a few days ago, where around 4,000 BTC, worth approximately $332 million, was offloaded to the same wallet. It is being speculated that after these transactions, the wallet holds a whopping 12,000 BTC – around $1 billion in value – raising market skepticism about the purpose behind the transactions. To add to that, Binance’s ongoing legal and regulatory challenges add complexity to the situation. The exchange has also faced criticism over compliance issues and transparency in the past, leading to uncertainty, making investors pull assets.

As Bitcoin continues its upward climb, significant whale activity like this will remain a point of focus for traders and experts seeking insights about market direction. Whether the growing institutional interest in Bitcoin will be a harbinger of price surges or simply a portfolio adjustment remains to be seen. Given that, let’s take a quick look at Bitcoin’s latest price performance, followed by a BTC price prediction for today. 

BTC Price Analysis: BTC Breaks $88K, Faces Massive Correction!

Bitcoin started trading at $85,206 yesterday. It was working in a trading range late on the previous day, and continued to display similar behaviour early on. However, a slight death cross and rising selling pressure took Bitcoin into a stable downtrend, taking it to $83,941 at 6:20 UTC. At 6:30, the signal line overtook the long-term EMA, and the trend was reversed. The golden cross sparked an uptrend, taking BTC stably back to $85,241. The RSI indicated overbought levels at this point. BTC consolidated around the price, falling to break upward of the $85,500 resistance. However, the coin found steady support at $84,574. At 13:30, a significant golden cross formed as Bitcoin steered upward, breaking resistance to form a new one at $87,300 at 15:40 UTC.

Chart 1: analyzed by raodevansh18, published on TradingView, April 3, 2025. 

But Bitcoin failed to move further up. With the RSI noting overbought levels and a death cross on the MACD, the coin experienced a downturn, leading it to find support at $86,200. At 20:00, rapid action on the MACD ensued as Bitcoin spiked up to $88,500, its intraday high, before diving deeper. Bitcoin finally settled at $82,893 at midnight. Today’s Bitcoin price action has seen it climb slightly and display range-bound behaviour between the $83,850 resistance and $83,250 support.

BTC Price Prediction: Can BTC move back up to $88,000+ Levels

The Bitcoin price action on liberation day has been nothing short of dramatic, with insane spikes and similar downfalls. For a big positive, Bitcoin was able to break the coveted $88,000, but has since fallen by over 5%. Given that, it will take more than a hop and a skip to get back to that level. For now, BTC looks poised for an upward breakout out of the trading range, as the signal line takes over and buying pressure rises. During the day, an upward trend or a spike can be seen, leading Bitcoin to find stability around $85,000 again. However, if the upward trend is not sustained, a drop to $80,000 is highly plausible.