Key Highlights

• Bitcoin’s 50-day EMA bounce aligns with a bullish pattern aiming for $148,000.

• The sell-off of 80,000 BTC by an old whale suggests a third wave of profits, often a precursor to market recovery.

Bitcoin has experienced a notable drop of 7.50% following a record high close to $123,250. Analysts believe this decline might be the final shakeout before a potential move toward $150,000.

BTC Maintains Key Moving Average Support

On Sunday, Bitcoin made a bid to reclaim its 50-day exponential moving average (EMA) as support after dipping briefly the day before. This EMA has historically provided a solid support level, enabling price rebounds. In June, for example, a brief dip below this level led to a swift 25% increase.

Currently, it seems Bitcoin is mirroring that same pattern. Analyst Bitbull has pointed out the possibility of a similar situation unfolding in the near future, with a drop into the $110,000-112,000 range potentially setting the stage for a “perfect bottom” and the next upward move.

Classic Technical Breakout Targeting $148,000

The support from the 50-day EMA lines up with Bitcoin’s typical inverse head and shoulders pattern. After breaking above this neckline, Bitcoin often pulls back to retest it, a common occurrence after such movements. This behavior bolsters the credibility of the bullish reversal setup.

If this neckline retest proves successful, Bitcoin could be poised for a continuation phase in its breakout, with targets around $148,250 anticipated. Analysts are watching closely as this aligns with expectations for Bitcoin to reach $150,000 by 2025, with a significant uptick projected around October.

Old Bitcoin Whale’s $9.6 Billion Sell-Off Indicates Bullish Trends

Onchain data suggests that a continued drop in Bitcoin’s price could eventually lead to another major breakout. Recent insights reveal that there have been three significant profit-taking waves by whales in the cryptocurrency market from 2023 to 2025.

The first wave coincided with the launch of a US Spot ETF in March 2024. The second occurred when Bitcoin surpassed $10,000 after the Trump election in late 2024, and the third took place in July 2025 after Bitcoin’s breakout past $120,000 led to a sell-off of 80,000 BTC by old whales.

According to analysts at Crypto-class, these profit waves precede periods of price consolidation or corrections lasting from two to four months. They suggest that these cooling phases typically renew accumulation and set the stage for breaking new historical highs.

This data presents strong evidence that we might be witnessing another cooling phase in the market, which historically precedes a period of integration followed by substantial price breakouts.

This content does not serve as investment advice or recommendations. All trading and investment activities carry risks, and readers are encouraged to conduct their own research before making any decisions.