How did whale activity and the accumulation of 29600 BTC over a week influence market support around 100000?
Why is this the correct answer?
When large holders or whales buy and hold significant amounts of Bitcoin during a dip, their demand creates a support level. Accumulating nearly 29,600 BTC over a week signals whale confidence and helps prevent price from falling below key levels, in this case around $100,000. For beginners, imagine big buyers stepping in to catch falling prices, which can stabilize the market and form a price floor.
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