Bitcoin Teeters on Support Zone as Whale Wallets and Strategy Transactions Spark Uncertainty

Bitcoin's price is hovering near $62,800, down around 1% from yesterday's close. This puts it in a precarious position as it tests a major support zone.

A significant whale wallet holding 16,400 BTC and another linked to Strategy have both made recent transactions after months of inactivity, adding uncertainty to an already volatile chart.

The Strategy-linked wallet moved around $18.91 million worth of coins, while the whale wallet sent its entire stack of 16,400 coins to a new address after seven months of dormancy.

Experts note that this could be either a sign of cold storage or an impending sell-off.