Bitcoin Hits $103,000 — Is a New All-Time High Just Around the Corner?

Jakarta, Pintu News – On May 13, the price of Bitcoin (BTC) stood at $102,635 and was struggling to break through the $105,000 resistance level. Despite previously failing to cross this important boundary, the crypto king is still not giving up.

The “whales”, i.e. large investors in the Bitcoin market, could potentially provide a significant boost that could counter the downward pressure and possibly push the Bitcoin price to new record highs.

Then, how will the Bitcoin price move today?

Bitcoin Price Up 1.04% in 24 Hours

On May 14, 2025, Bitcoin was trading at $103,675, or approximately IDR 1,709,769,569, marking a 1.04% increase over the past 24 hours. Within that timeframe, BTC dipped to a low of IDR 1,689,772,469 and reached a high of IDR 1,748,279,351.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.05 trillion, with trading volume in the last 24 hours also down 18% to $51.48 billion.

Read also: US CPI Inflation Drops to 2.3% — Is Bitcoin About to Explode to a New All-Time High?

Bitcoin Market Peak or Just a Temporary Setback?

Bitcoin is showing signs of having met the conditions that usually indicate the formation of a market top. Currently, more than 98% of the total Bitcoin supply is in profit-beyond the 95% threshold generally associated with a price peak.

Historically, such conditions are often followed by a reversal and a price drop. However, this situation may be different.

A large percentage of profit-making supply indicates that many investors are enjoying profits. While this usually signals a potential price correction, it can also reflect continued market strength – especially when considering the important role of whale behavior.

In the past, large Bitcoin owners (whales) proved capable of moving the market and even preventing sharp declines.

A closer look reveals that large investors-particularly those holding between 10 and 10,000 BTC-are aggressively accumulating.

In the past month alone, these whales have bought more than 83,100 BTC, worth about $8.5 billion. This influx of large investments is a counterbalance to the sell-off by smaller investors.

Although there are indications of profit-taking from retail investors, the impact is minor. Massive accumulation by whales shows that they are still optimistic about Bitcoin’s continued growth, which could dampen short-term bearish pressure. This accumulation trend reinforces the overall bullish sentiment towards Bitcoin.

Read also: Metaplanet Buys Another 1,271 Bitcoins! Will BTC Price Explode This Week?

BTC Price Prepares to Set a New Record High (All Time High)

As of May 13, Bitcoin price was at $102,635, reflecting the latest failure to break the $105,000 resistance barrier. Price action like this usually signals a market top forming, which is often followed by a price drop.

However, accumulation by the whales could prevent a sharp drop and help Bitcoin hold above important support levels. This huge influence from whale investors could potentially push the market in a more positive direction.

If Bitcoin’s bullish momentum strengthens again, the price will most likely be able to break the $105,000 resistance and aim for the $106,265 level. If this level is successfully passed, Bitcoin could shoot up to $110,000 and set a new All Time High.

This achievement would be a significant milestone in Bitcoin’s ongoing bullish trend, which is driven by institutional interest and accumulation from whales.

On the other hand, if the market sentiment turns negative and investors start panicking or taking profits, Bitcoin price could decline. This scenario could push the price down below $100,000, possibly even reaching $98,000.

A drop of this magnitude would test the strength of the current bullish trend and extend the period of market uncertainty.

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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:

• BeInCrypto. Whales Buy $8.5 Billion in Bitcoin-Can Their Firepower Push Price to $110,000? Accessed on May 14, 2025