Bitcoin whale activity has surged dramatically over the past 24 hours, signaling potential upward momentum for BTC's price to reach the $100K milestone. Recent data reveals that six newly created whale wallets withdrew over 1,110 BTC (worth ~$107.7 million) from Binance, underscoring heightened accumulation by large investors.
Bitcoin Whales Capitalize on Market Dips
Blockchain analytics platform Lookonchain reports that Bitcoin whales have been strategically accumulating BTC during price pullbacks, particularly around the $97K support level. This trend reflects strong confidence in Bitcoin's long-term value despite ongoing market volatility.
Key on-chain metrics from IntoTheBlock highlight:
- 60,000 addresses purchased 22,740 BTC above current prices.
- 458,000 addresses hold 344,000 BTC, forming a solid demand base for future price surges.
"Long-term holders are exhibiting 'greed'—a historical precursor to market tops. If patterns hold, Bitcoin could peak between June–September 2025."
— Crypto analyst Ali Martinez
Technical Indicators Fuel $100K Speculation
BTC's price action shows robust technical strength:
- Current Price: $98,650 (+0.60% intraday)
- Market Cap: $1.95 trillion
Bullish Signals:
- SuperTrend indicator flipped positive on hourly charts.
- Breakthrough of key resistance trendline.
- Strengthening RSI (Relative Strength Index).
👉 Why MicroStrategy's $3B Bitcoin purchase could accelerate the rally
Exchange Activity and Institutional Demand
- Centralized exchange volumes hit sustained highs, indicating strong bullish sentiment.
- MicroStrategy plans a $3B BTC purchase after raising capital via convertible notes.
FAQ: Bitcoin Price and Whale Activity
Q: How does whale accumulation impact BTC prices?
A: Large withdrawals from exchanges reduce sell-side liquidity, often leading to price spikes due to supply scarcity.
Q: What’s the significance of the SuperTrend indicator?
A: A bullish SuperTrend suggests upward momentum, especially when paired with RSI confirmation and trendline breaks.
Q: Are GameFi tokens outperforming Bitcoin?
A: Yes, sectors like GameFi and Metaverse are rallying while BTC consolidates, reflecting diversified crypto market interest.
👉 Explore how blockchain analytics tools like IntoTheBlock track whale movements
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