Bitcoin (BTC) is consolidating near its key resistance level of $69,000 after a strong weekend push. This follows a period of lower volatility, with liquidity building up on both sides of the order book. Analysts are closely watching this price range, with a weekly close above $69,000 seen as crucial for a further breakout.

BTC Whales Accumulate, Signaling Confidence

Large Bitcoin holders, known as whales, have resumed their buying spree after a brief pause. CryptoQuant data reveals a surge in whale address holdings, indicating a belief that current prices are attractive for accumulation.

This renewed buying activity suggests whales view the recent dip as a buying opportunity and remain confident in Bitcoin’s long-term prospects. Since the beginning of the year, the amount invested by whales has doubled to $122 billion.

Saylor Doubles Down on Bitcoin

Michael Saylor, CEO of MicroStrategy and a vocal Bitcoin proponent, reiterated his bullish stance on the flagship cryptocurrency. He believes Bitcoin is on the verge of widespread adoption by governments, institutions, and individuals.

Saylor emphasized the limited supply of Bitcoin as a key factor in its potential to solve global economic challenges and combat inflation. He downplayed the threat of other digital assets dethroning Bitcoin, suggesting it’s too established and powerful.

Kiyosaki Pushes Bitcoin as Bond Alternative

Robert Kiyosaki, author of “Rich Dad Poor Dad,” challenged the traditional view of bonds as safe investments. He warned of potential risks in the commercial real estate market and its impact on AAA bonds.

Kiyosaki encouraged investors to consider Bitcoin as an alternative, particularly during market volatility. He believes the recent ETF approval and the Bitcoin halving event could propel the price to $300,000.

Venezuelan Crackdown on Bitcoin Mining

Venezuelan authorities seized over 6,000 Bitcoin miners in two states, aiming to reduce the strain on the country’s struggling power grid. This follows the earlier confiscation of over 11,000 miners.

The crackdown reflects growing concerns about the energy consumption of Bitcoin mining, contributing to frequent blackouts. The future of Bitcoin mining in Venezuela remains uncertain.