Home » Bitcoin Bitcoin whales fill their bags despite warnings BTC price could fall below $40K Bitcoin Reading 2 min Views 3 Bitfinex heavyweights are not the only ones who see current Bitcoin price levels as a buying opportunity. Bitcoin (BTC) headed toward $42,000 on April 9 after bulls failed to spark a late-week turnaround. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin lines up 10% weekly red candle Data from Cointelegraph Markets Pro and TradingView showed BTC/USD slowly dissolving support levels in place for several weeks as the weekend began. After multiple tests of $43,000, that area finally gave way to see the pair hit lows of $42,131 on Bitstamp, its lowest since March 23. Bulls hoping for a rescue move felt the pain, with cross-crypto liquidations totaling $200 million in the 24 hours to the time of writing Saturday, data from on-chain monitoring resource Coinglass confirmed. Crypto liquidations chart. Source: Coinglass For traders, the short-term outlook was thus firmly bearish in character. Popular commentator Crypto Ed eyed a retest of $40,000, but warned that Bitcoin might not stop there. “As long as it doesn’t reclaim 44k or even better 45-46, I’m affraid we have to be ready for more downside and at least retesting 40k and maybe even lower,” he warned Twitter followers. #Bitcoin is trading at a liquid range of $42-$45k. Low volume over the weekend can cause abrupt price swings.#BTC Risk signal at the high-level threshold. pic.twitter.com/J4bj2aHCKo — 𝗡𝗲𝗴𝗲𝗻𝘁𝗿𝗼𝗽𝗶𝗰 (@Negentropic_) April 8, 2022 In contrast to the previous week, Bitcoin’s weekly candle set to close Sunday thus included almost $5,000 of losses or nearly 10%. Nothing stops Bitfinex whales Nonetheless, not everyone was attempting an exit. Related: Waiting for $40K? Bitcoin’s critical level is already here, says new research According to the latest data, Bitcoin whales were busy buying up new supply from sellers, with exchange Bitfinex seeing some notable bid volumes getting filled. More bids being filled… $BTC https://t.co/CKj7zF7yXW pic.twitter.com/cF48gAYxax — Credible Crypto (@CredibleCrypto) April 9, 2022 Previously, Cointelegraph reported on the significance of Bitfinex whales and their buying and selling habits this year. Another large-volume wallet of unknown origin likewise continued to buy millions of dollars’ worth of BTC at regular intervals regardless of price action — a strategy known as dollar cost averaging. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.