Bitcoin Rebounds to $64,150 as Whale Activity Jumps

Bitcoin's price has rebounded to $64,150 after showing signs of bullish divergence on the Relative Strength Index (RSI). According to crypto analyst JAVON MARKS, this technical chart pattern indicates waning bearish momentum and a possible move toward a bullish market structure.

The RSI shows a decrease in selling pressure and an uptick in buyer momentum, reflecting increased confidence among market participants. The shift in technical indicators comes as network activity intensifies and large investor participation grows.

Data from blockchain analytics firm Santiment revealed a surge in Bitcoin network activity over the last week, with active wallets jumping to 712,000, reaching a three-month high. Additionally, there were 61,800 whale transactions exceeding $100,000 each, marking the highest level of large trades in the past five months.

Analysts believe that the sustainability of Bitcoin's price recovery will depend on buyers' ability to push the price above key resistance levels. Strengthening on-chain metrics and continued whale activity could reinforce a potential upward move.