Bitcoin whales are backing the ongoing rally as the asset's price remains within the same range for over a week. The prolonged stability in Bitcoin's price indicates strong support from significant holders.
Recent developments include Mt. Gox transferring over 13,000 BTC to a new wallet. This transfer could lead to further movements to various exchanges, echoing previous impactful transfers. Additionally, the German government selling their seized BTC had a noticeable effect on market trends.
Despite these activities, Bitcoin's price continues to hover without significant fluctuation, indicating ongoing consolidation and potential strategies being employed by key players in the market.
