Bitcoin Holds Strong at $105K on June 4 – Massive Whale Scoop of 79,244 BTC Sparks Bullish Frenzy!

Jakarta, Pintu News – After recording its highest monthly close in May, Bitcoin (BTC) is on the verge of a major parabolic surge in the near future.

The major crypto asset managed to bounce off the previous weekly resistance level around $104K and is now signaling the start of a new rally.

Moreover, the massive liquidation in the crypto market in recent days has eased the highly leveraged market, thus paving the way for the next potential bullish rally.

Not only that, the open interest (OI) in the Bitcoin Futures market has also gradually increased in the past two months, from around $47 billion to around $71 billion on June 3, during the late trading session in North America.

Bitcoin Price Up 0.08% in 24 Hours

Read also: Ethereum Holds Strong at $2,600 — Could ETH Be Headed for $5,000? Analysts Say It’s Possible!

On June 4, 2025, Bitcoin was trading at $105,627 (approximately IDR 1,719,148,682), marking a modest 0.08% gain over the past 24 hours. Throughout the day, BTC fluctuated between a low of IDR 1,709,853,917 and a high of IDR 1,740,445,086.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.09 trillion, with trading volume in the last 24 hours down 8% to $43.73 billion.

Whale investors are spending large amounts of Bitcoin

Based on Santiment’s analysis of on-chain data, approximately 151,820 Bitcoin wallets holding between 10 and 10,000 BTC have accumulated 79,244 coins in the past week.

As a result, this group of investors now collectively controls a total of 13.57 million Bitcoins.

As Coinpedia once reported, this strategy has encouraged more and more companies to adopt Bitcoin as a corporate cash management tool.

For example, Reitar Logtech plans to raise $1.5 billion to buy BTC as part of its corporate cash reserves.

What’s Next for BTC Price?

In recent weeks, Bitcoin price has shown strong bullish sentiment, along with positive developments from the tariff negotiations led by the United States.

Read also: Stanford PhD Predicts Bitcoin Will Smash All-Time Highs This Week – Here’s Why You Should Pay Attention!

While gold prices are also showing potential to rally towards new record highs, Bitcoin prices are expected to follow the trend in the near future.

In terms of technical analysis, BTC price is on the verge of a major parabolic rally in the next few weeks, which may resemble the summer surge of 2017.

According to crypto analyst Gert van Lagen, Bitcoin price is heading towards the $320,000 level in the near future, especially after the bullish confirmation last month.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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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:

• Coinpedia. Bitcoin ATH Incoming? Whale Accumulation Hints at Potential Bullish Breakout. Accessed on June 4, 2025