Wintermute Sends $98M in BTC to Binance Amid Price Action Inside Bollinger Bands

Wintermute has made a significant deposit to Binance, sending 1,279.99 BTC (~$98.68M) in eight transactions over the past 18 hours. The latest transaction was for 90.1 BTC (~$6.97M), which arrived just 30 minutes ago.

The price of Bitcoin currently sits at $79,993.27, within its Bollinger Bands with an upper resistance level at $79,728.63. From a technical analysis perspective, the bullish structure is holding above the EMA50 support at $71,697.26 and the EMA200 at $66,638.56.

However, overbought conditions are indicated by an RSI(14) reading of 73.1, while the MACD death cross at 2,135.31 suggests that momentum may be fading. This could lead to a healthy retracement to the 50-EMA before any continuation in Bitcoin price scenarios.