Bitcoin Price At Risk? Grayscale’s $335M Coinbase Transfer Stirs $30,000 Plunge Potential
Summary
Grayscale's significant selling of Bitcoin has contributed to a 20% price decline over the past week. The company transferred a substantial amount of BTC to Coinbase, potentially indicating further selling. Bitcoin's support at $38,500 has held so far, but if it breaks, the next resistance is at $37,750. Failure to hold above this level could lead to a decline towards $35,600 and then $33,000. If the price continues to drop, key support levels to watch are $29,000 to $30,000. The market is cautious about a potential significant price plunge due to the intensified selling pressure. The upcoming days and weeks will be critical in determining Bitcoin's future momentum.
