- Bitcoin just blew past the $67,000 price target igniting bullish sentiment.
- Amidst this, Tesla moves $275 million worth of BTC to multiple wallets.
- The BTC price chart nears a bullish cross-over pattern signaling a parabolic pump ahead.
Bitcoin (BTC) just smashed through a major resistance level to soar past $67,000, this is a huge bullish sign for the pioneer crypto asset and many analysts expect the price of BTC to continue this climb to reach its precious ATH or even set a new ATH in the coming weeks. With high expectations for Q4, this is a likely possibility for Bitcoin.
Tesla’s Enlightening Bitcoin History
Amidst the positive wave of bullish crypto sentiment, Tesla makes an eye-catching move. According to the post above, Tesla has just moved another $275 million worth of Bitcoin to new wallets. Could the tech entity be preparing to take some profits if the price of Bitcoin reaches a certain target?
We know for certain that Tesla is not above selling its Bitcoin even if the profit margin hasn’t been reached. For instance, in July of 2022, Elon Musk pulled what many expected a typical FUD move only a boomer could make as Tesla sold 75% of its BTC holdings. Many community members called this move a panic-selling feat, leaving Tesla with about 10,000 BTC in hand.
Will Tesla Sell Before the BTC Pump?
Since then, Tesla has been slowly accumulating Bitcoin (BTC) and by April 2023, the result was a whopping $300 million worth of Bitcoin in Tesla’s holdings. With the latest move of Tesla’s BTC to other wallets, could this be the time the entity will sell again just before BTC is heading towards the start of its bull run as many analysts believe?
Bitcoin MACD about to make a bullish cross-over on the Weekly chart for the first time in 364 days. 🚀 pic.twitter.com/XOB1fMAxNg
Read CRYPTONEWSLAND ongoogle news — Bitcoin Archive (@BTC_Archive) October 15, 2024
Truly, this would be another FUD boomer move if Tesla sells before BTC sets a new ATH this bull run. Meanwhile, the chances of Bitcoin setting a new ATH only grow stronger according to many price chart observations made by prominent analysts in the space. For instance, as we can see from the post above, Bitcoin MACD is about to make a bullish cross-over on the weekly chart for the first time in 364 days citing a signal for a parabolic pump ahead.
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