Key Takeaways:
- Bitcoin whales have purchased $32B, boosting BTC above $105K.
- Strong realized P/L ratios indicate investor confidence and healthy market structure.
- BTC could rise toward $108K–$110K, though short-term pullbacks remain possible.
Bitcoin (BTC) is showing remarkable resilience as whales accumulate massive positions, keeping the cryptocurrency above the critical $100,000 support level. Recent on-chain data reveals large investors purchased over $32 billion worth of BTC, reinforcing the market’s structural strength and signaling confidence despite short-term volatility.
Strong Structural Support Underpins BTC
Despite fluctuations, Bitcoin has avoided a break below $100,000, demonstrating robust market fundamentals. Many analysts highlight that what appears as a bearish correction is, in fact, a healthy consolidation phase. The Realized Profit/Loss (P/L) Ratio supports this view, remaining significantly higher than mid-cycle bear phases of previous years.
Also Read: Bitcoin to $170K or Bust? JPMorgan’s Prediction Fuels Ethereum’s Rise
Currently, the 90-day simple moving average (SMA) of the P/L Ratio stands at 9.1, reflecting moderate profit-taking while retaining strong investor profitability. This suggests market participants are confident about Bitcoin’s long-term prospects, and dips are primarily driven by tactical profit-taking rather than panic selling.
Whale Accumulation Drives Price Recovery
On-chain metrics reveal that Bitcoin whales—addresses holding between 10,000 and 100,000 BTC—have purchased more than 300,000 BTC in recent days. This buying spree, valued at nearly $32 billion, has pushed Bitcoin past $105,000, reinforcing bullish momentum.
Also Read: Bitcoin Price Prediction: Whale’s $200M Bet vs. $1B Shorts – BTC’s Next Move?
Whale activity often acts as a bellwether for the market, signaling renewed institutional confidence and creating a floor that deters steep declines. This influx of large-scale buying positions BTC to potentially test higher targets in the near term.
Outlook: $108K–$110K Within Reach
At the time of writing, Bitcoin trades at $106,148, comfortably above key support levels. Analysts suggest that continued accumulation could drive BTC toward $108,000 and even retest $110,000 if market demand remains strong and macro conditions stay favorable.
However, short-term profit-taking could temporarily pull BTC back below $105,000, possibly retesting support around $101,477. Traders should watch whale movements and realized P/L metrics closely to gauge the sustainability of the ongoing rally.
