The BTC price just slipped below $27,000, the levels it had held for the past couple of days but had yet to validate the conquest of the bears for the day. The price after the fresh pullback is testing the lower support of the ascending triangle that it maintained since the beginning of the year 2023. Therefore, a plunge below these levels may cause a massive drop in the BTC price, which may even extend below $25,000.

In the meantime, while the BTC price has been largely stagnant, the whales have been accumulating the star crypto. As per the data from a popular on-chain platform, Santiment, they have been constantly accumulating over the past 5 weeks, bringing the count close to 85,000.