After slipping to a low of $21.5K, Bitcoin price is again witnessing a huge buying opportunity ahead of the U.S Consumer Price Index(CPI) data on Tuesday. Bitcoin and altcoins prices tumbled after the news of the U.S. SEC’s crackdown against crypto staking offered by crypto firms in the US.
Experts warn of an upcoming Operation Choke Point 2.0 regulatory action coordinated by multiple U.S. government agencies to cut ties between the crypto industry and banks. The SEC issued a Wells Notice against Paxos claiming its Binance USD (BUSD) is an unregistered security.
Bitcoin Whale Transactions Count data indicates that whale transactions with over 1 million USD have hit a 3-month high. It suggests that whales are showing interest as the Bitcoin price fell to $21.5K.
Moreover, crypto analyst Michael van de Poppe earlier predicted that Bitcoin price is still in a corrective trend and can hit the $21K support level. It is actually the entry zone that investors should be looking at. Whales are likely looking for a buy-the-dip opportunity at the current level.
After a buy-the-dip, Bitcoin price can rally to $25K. It is actually a great period to start looking into longs due to the dip season. Interestingly, the U.S. CPI data for January coming on Tuesday is the event after which a massive rally can be seen because the inflation will probably drop like a stone.
