Bitcoin is experiencing a technical slump after breaking below a key support level, fueling concerns of renewed selling pressure. A large transfer of Bitcoin (BTC) to exchanges from an influential whale has been cited as a possible driver behind this downturn. 5,252 BTC ($588 million), equivalent to the size of the transfer made by a prominent whale, was moved to major exchanges. This move, coupled with the recent opening of a $234 million short position by the same whale, has added fuel to market anxiety. Bitcoin is currently trading below crucial support levels, sparking fears of a potential retest of the $98,000–$100,000 range. Analysts are closely watching for any signs of recovery and are unsure about the short-term future of Bitcoin.