Bitcoin (BTC) surged almost 5% in 24 hours at the Wall Street open on March 25, but a new warning sign has given traders pause.

BTC/USD 1-hour light chart (bit-mark). Source: Trading View
Bitfinex Whale Goes into Sell Mode
Data from Cointelegraph Markets Pro and TradingView confirmed that BTC/USD peaked at $45,137 on March 25 when it hit Wall Street.

However, with his first appearance of $45,000 since the beginning of the month, he has given way to the well-known behavior of some of Bitcoin’s biggest investors.

At one time, attention was drawn to the Bitfinex exchange, a well-known platform for large traders or whales who manage short-term price trading with traders.

As well-known trader Pentoshi pointed out, the unit that bought BTC at a low of around $34,000 has now entered an important request position starting at $45,000.

William Clemente, lead analyst at Blockware, agreed, telling Twitter users that it’s “popcorn time” for the market.

Meanwhile, Cointelegraph contributor Michael van de Poppe noted a “dozen” potential lower price targets if BTC/USD moves through liquidity at previous rejection points since March, also at just over $45,000.

“I’m not saying I’m pessimistic at the moment, but while we’re doing this build, I’m not really interested in long-term deals at the moment,” he said in his latest YouTube update.

He added that the new challenge of just $50,000 would create momentum for considering long positions.

Ethereum ‘we can’t take it anymore’ says Handel
Van de Poppe added that altcoins are also in the spotlight and it will be interesting to see how Ethereum (ETH), in particular, handles the upcoming resistance.

Related: What BTC Price Levels Should Be Considered As Bitcoin Nears Its March Peak?

The top 10 cryptocurrencies by market capitalization have shown clear copying power on the daily timeframes, led by ETH/USD, which equates to a 5% gain for Bitcoin.

Cardano (ADA), while down a few percentage points on the day, is still up 35% from the same period last week, making it the top 10 priests.

Source: CoinTelegraph

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