Bitcoin (BTC) Potentially Reaches $110,000, Whale Accumulation Increases!
Jakarta, Pintu News – Bitcoin seems to be heading towards the $110,000 price as accumulation by large holders increases, although small investors are starting to take profits amid favorable macro conditions.
Check out the full analysis below!
Increased Accumulation by Whale
In the past 30 days, wallets holding between 10 and 10,000 Bitcoin (BTC) have accumulated more than 83,000 BTC. This data, published by Santiment on May 13 on X, shows the high confidence of large holders in the future of Bitcoin (BTC).
Meanwhile, wallets holding less than 0.1 BTC released around 387 BTC. This activity shows that while the amount may seem small to retail investors, it has a significant impact on the total BTC held by each group.
Santiment noted that small investors tend to take profits, which may signal their anticipation of a local price peak.
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Market Dynamics and Institutional Sentiment
The Bitcoin (BTC) market recently received a significant boost after the US and China agreed to reduce tariffs for 90 days, which improved overall market sentiment. Bitcoin (BTC) briefly touched a weekly peak of $104,710 before stabilizing around $102,500.
Data from Glassnode shared on May 12 at X showed a decrease in momentum buying and an increase in profit-taking levels. On the other hand, demand from institutions remains strong.
Strategy added $1.34 billion worth of Bitcoin (BTC) on May 12, increasing its total holdings to 568,840 BTC, which is about 2.86% of the current circulating supply. Japan’s Metaplanet also increased its reserves with the acquisition of 1,241 BTC, now holding a total of 6,796 BTC.
Read also: Neon EVM Skyrockets 35% in 24 Hours, Why NEON Rises Today May 15, 2025?
Technical Analysis and Price Potential
From a technical standpoint, Bitcoin (BTC) is currently trading above all major moving averages, including the 10-day EMA and 50-day SMA, both of which indicate a “Buy” signal. Momentum indicators, such as moving average divergence convergence, also show a bullish bias.
The Relative Strength Index (RSI) stands at 68, just slightly below the overbought level. This suggests that the price rise may face resistance near $105,000 to $106,300, where the upper Bollinger Band is located. If it manages to break this zone, Bitcoin (BTC) could head towards the psychological milestone of $110,000.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Crypto News. Whale Accumulation Suggests Bitcoin Could Be Eyeing $110K Even as Retail Capitulates – Santiment. Accessed on May 15, 2025
- Featured Image: Generated by Ai
