Question #217 ·
How did whale activity and the accumulation of 29600 BTC over a week influence market support around 100000?
- Whale accumulation had no market impact because retail traders dominated and price action remained driven by sentiment.
- Whale activity signaled imminent sell off pressure causing price collapse below ninety thousand dollars support level trading.
- Whale accumulation of twenty nine thousand six hundred BTC supported price floor around one hundred thousand dollars. Right answer
- Bulls accumulation of new altcoin positions led to bullish momentum above one hundred thousand dollars resistance level.
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.