Bitcoin traders have realised profits, with whales selling over 29,000 BTC since April 9, amounting to $2.4 billion. Semler Scientific plans to raise $500 million to purchase more Bitcoin and settle legal issues. Currently, Bitcoin trades around $83,300, down 2.7% in 24 hours amid increased volatility. Resistance remains around $87,000, with the potential for significant market movements ahead.
Recent activities in the Bitcoin market show that major traders, referred to as whales, have liquidated over 29,000 BTC, corresponding to a value of $2.4 billion since April 9. This trend coincided with a recent price surge of 7.5%, indicating that these traders are taking profits at peak prices. Currently, Bitcoin trades at approximately $83,300, experiencing a 2.7% decrease in the past 24 hours despite high trading volume.
In related news, Semler Scientific has filed with the SEC to raise $500 million to stabilise its finances, partly to enable further Bitcoin purchases. Additionally, the company is negotiating a $29.75 million settlement owing to alleged marketing violations, which requires securing a loan from Coinbase while using its 3,192 BTC holdings as collateral. Notably, Michael Saylor’s Strategy has also acquired an additional $285 million in Bitcoin this week, following a significant profit of $6 billion from its Bitcoin operations in Q1 2025.
Looking ahead, the price of Bitcoin is being closely monitored by traders. The daily chart shows that the Bollinger Bands are widening, indicating increased market volatility. A key resistance level to watch lies between $87,000 and $88,000, with a critical threshold at $87,100 for confirming bullish trends. If the price dips below $77,900, it may suggest a further decrease.
The Relative Strength Index (RSI) is currently positioned above 49, signalling market indecision. Any movement upward above 55 could indicate a stronger bullish trend. Concurrently, the MACD hints at a potential bullish crossover, although decreasing momentum may indicate waning strength.“ The 24-hour trading volume stands at $26.8 billion, down approximately 9%. Moreover, investor Evan Luthra has commented on the dwindling Bitcoin supply on exchanges, suggesting substantial upcoming price movements and anticipating a breakout.
Disclaimer: Coinspeaker aims for unbiased and precise reporting. While this article strives to present timely and accurate information, it should not constitute financial advice. We recommend verifying the information independently and consulting financial experts before making investment decisions.
