Bitcoin Whales Are Stacking At Every BTC Price Dip, $100K+ Rally Soon?

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Ah, the Bitcoin whales—those mysterious titans of the crypto ocean. They’ve been scooping up every last dip with the same enthusiasm a hoarder feels when spotting a yard sale. Last week, amid the turbulent waves of BTC price volatility, they seemed to take it as their personal mission to buy in bulk. According to the latest on-chain data, 135 new whale wallets, each with over 100 BTC, emerged this February. Why, you ask? Well, we might be seeing the very reason Bitcoin bounced back up to a healthy $100K after it briefly flirted with $90K this week. Could it be? Is it destiny, or is it just smart money at play? 🐋

Bitcoin Whale Accumulation Grows Amid Market Volatility

The crypto market, rattled by Trump trade war fears (because of course, what else could it be?), has been the perfect opportunity for the deep-pocketed whales to stuff their metaphorical wallets. Blockchain analytics platform Santiment has reported that 135 new wallets were created in February, each stuffed with over 100 BTC. Not too shabby. Meanwhile, retail investors—especially those who decided to play the game in the past six months—saw the correction and thought, ‘Oh, it’s time to panic sell!’ Wallets holding less than 100 BTC dropped by 138,680 during February. Clearly, the weak hands have thrown in the towel, and the strong hands are getting even stronger. 🍿

And here’s the kicker: Santiment’s data shows that this pattern of whale accumulation combined with retail liquidation often signals the coming of a market cap boom. But don’t hold your breath for a miracle tomorrow—it could take weeks, maybe months, for the gains to show up. Meanwhile, some believe this is the end of the Bitcoin bull run. But let’s not get too hasty, eh? The whales sure don’t seem to think so. 🐋💰

Bitcoin Finds Strong Support at $97,500 Level

Now, we must pay attention to Glassnode’s Cost Basis Distribution (CBD) data, which reveals that approximately 200,000 BTC were snapped up above the magical $97,500 mark. This has given us a strong support level that’s kept Bitcoin from crashing into oblivion during recent price dips. How lovely. Currently, Bitcoin is chilling at $97,601, while daily trading volume has taken a nosedive, down 35% to just under $47 billion. And let’s not forget the liquidation party: $36 million in 24-hour liquidations, with $23 million of that coming from long liquidations. 🍸

As Glassnode explains: “This strong accumulation stabilizes BTC price above $97.5K, well above the short-term holder cost basis (~$92K). Below $97.5K, unrealized losses rise sharply, increasing downside risk as sentiment weakens.” So, you know, no pressure, just the fate of a multibillion-dollar asset hanging in the balance. 😅

BTC Price Needs to Break Past $101 for A Strong Bull Rally

Now, let’s talk about the magical $101K mark. Rekt Capital, a popular crypto analyst (and probably your new best friend), pointed out that Bitcoin is currently testing its diagonal trendline support level, dancing between $98,000 and $101,000. A higher low formation is starting to appear, and if Bitcoin can find stability here, we might just be looking at a glorious retest of $101,000. Can you feel the anticipation? 😬

Oh, and did I mention Bitcoin ETFs are making their grand return? After a wildly successful run in the US last year, major players like BlackRock are now working to bring Bitcoin ETFs to Europe. More whales, more ETF madness, more crypto drama. The plot thickens…

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2025-02-06 08:44