According to Whalemap, an on-chain analysis firm that focuses on Bitcoin (BTC) whale activity, short-term clusters are present at $10,570.
Whale clusters are shown at $10,570 and $11,288 for Bitcoin. Source: Whalemap
Whale clusters form when whales accumulate Bitcoin and do not move the BTC. Areas that have large amounts of unspent BTC become an area of interest, typically a resistance level. Analysts at Whalemap explain:
“Bubbles show locations where unspent bitcoins were accumulated. The…