Dormant Bitcoin whale burns over $8M in BTC as price touches $75K
At the same time, the gap between the two major moving averages has narrowed considerably in recent weeks. The 50-day moving average is now approaching the 200-day moving average, putting traders on watch for a potential golden cross formation if bullish momentum returns. In technical analysis, a golden cross occurs when the shorter-term moving average rises above the longer-term average and is often associated with stronger upside continuation. Since late March, Bitcoin has rallied from the $63,000 region before running into resistance near $83,000 earlier this month. Recent trading sessions have produced lower highs on the daily chart, while the $75,000 support area continues facing repeated retests. Meanwhile, momentum indicators still showed bearish pressure dominating the short-term structure. The Aroon indicator displayed a wide separation between bullish and bearish strength, with Aroon Down holding above 70 while Aroon Up stayed near 7. Whale transfer adds to unusual Bitcoin supply activity Large dormant-wallet movements have continued drawing attention because many older Bitcoin addresses are linked to early miners, long-term holders, or defunct trading platforms. As reported earlier by crypto.news, a separate Satoshi-era Bitcoin whale transferred 2,650 BTC, worth more than $200 million, to crypto trading firms FalconX and Cumberland earlier this week. The wallet still held nearly 6,000