Analysis: Bitcoin falls back and focuses on the support of US$82,500. If the giant whale returns to the bottom, it may have a rebound opportunity.

According to BlockBeats news, on October 3, crypto analyst Ali Charts wrote that BTC’s previous rise to around $87,000 was suppressed due to the continued profit-taking by giant whales during the rise and the fact that $87,000 is located at the top of the channel that has continued to suppress BTC recently.

Ali Charts said that during the overall market fluctuations in the past week, Bitcoin whale holdings decreased by approximately 30,000 BTC, worth approximately US$2.52 billion, indicating that some large investors are reducing their risk exposure.

Currently, Ali Charts is focusing on the support area on the lower edge of the BTC channel around $82,500. He said that if BTC falls back to this level and observes whales starting to accumulate again, it may be a signal for him to consider buying on dips and look forward to a subsequent rebound to test resistance near $87,000.