Bitcoin Fights Whales Above $22,000 as BTC Price Faces US CPI Data

Bitcoin bulls are now attacking the "final" major resistance cluster below $25,000, according to on-chain data.

Market Update

Bitcoin (BTC) continued to struggle against major resistance on September 13 as markets braced for US inflation figures.

BTC/USD 1-Hour Candle Chart ( Bitstamp). Source: TradingView

"Serious" whales present new hurdle to BTC price

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it sought to hit $22,500.

The bulls had been trying to overcome a wall of interest from sellers in the range just above $22,000, which proved particularly stubborn and led to an overnight consolidation phase.< /p>

On-chain monitoring resource Material Indicators highlighted the struggle in a screenshot of the Binance BTC/USD order book the previous day.

Let's see if they're hungry enough to munch on $13M in #BTC asking for cash.#FireCharts pic.twitter.com/GY3giu7Mh8< /p > — Materials Indicators (@MI_Algos) September 12, 2022

To fellow analytics platform Whalemap, it's no wonder the current range has been a sticking point for the bulls.

“The new area to watch: $22,780-$23,400,” the Whalemap team told Twitter followers:

"This one is serious BUT it's the last in our current range of 19,000-25,000 million."

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