Bitcoin Continues to Rally as Whales Accumulate

Bitcoin remains above $100,000. The recent surge in BTC prices has been driven largely by growing investor demand, as large-scale purchases continue to push prices higher.

According to data from Glassnode shared by analyst Ali, interest in Bitcoin has exploded again, with “whales” playing a key role in driving this rally.

The chart shows that large investors, also known as whales, have been actively buying BTC in large quantities. Specifically, 342 wallets, each holding more than 100 BTC (equivalent to about $10 million), have taken advantage of the sharp drop in BTC prices to $90,000 to collect.

These moves show that whales see the recent correction as a rare opportunity to buy Bitcoin at a bargain price, in the belief that the market will recover strongly. In fact, this prediction came true as Bitcoin price quickly climbed above $100,000.

Liquidity data from Coinglass shows that Bitcoin is preparing to set a new high, with the ability to sustain the price above $100,000.

Currently, BTC has cleared all important liquidity levels below the current price, while the next notable resistance point is located at $105,000, above the previous historical peak of $104,000.

According to Whale Alert, Tether (USDT) has issued another $1 billion at the Tether Treasury, signaling a new liquidity inflow into the market.

This increase in liquidity reflects the growing demand for USDT – the currency that investors can use to buy cryptocurrencies. Among them, Bitcoin, with its leading position, is expected to benefit the most as traders take advantage of USDT to buy BTC.

Additionally, Whale Alert also points out that market confidence in Bitcoin is gradually returning. A major investor recently transferred 7,999 BTC, worth over $800 million, to a cold wallet for safekeeping. These developments suggest that BTC is on track to set a new price record in the near future.