Bitcoin’s OBV Near Resistance as Volume and Whale Activity Rise

Bitcoin’s On Balance Volume (OBV) indicator is nearing a crucial resistance level, with trading volumes surging and suggesting growing investor confidence. While the OBV has shown consistent upward movement since August 2024, it currently stands near 1.8 million, testing its resistance zone. Analyst Ted Pillows observes that a rejection in the coming days could favor bears, but sustained strength may confirm further accumulation. 100 BTC worth $12.5 million was recently transferred from a dormant wallet after 12 years, coinciding with this increase in market activity.