Bitcoin is trading below the $79,000 mark, torn between whales selling for the first time since June and a traditionally bullish technical signal. US strikes on Iranian oil tankers pushed WTI crude to $92.89, its highest level in three months, representing a gain of more than 13% over the month. According to Glassnode’s Accumulation Trend Score, the market has entered a net distribution phase with a ratio of 0.37, with whales holding at least 1,000 BTC leading the selling. However, the 50-day moving average is approaching the 200-day moving average and could form a Golden Cross in the coming days, a bullish signal that contradicts current investor behavior.
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