Bitcoin Holds Above $107,000 Amid Whale Accumulation and Bullish On-Chain Metrics

Bitcoin has maintained a strong position above $107,000, indicating a potential surge toward the $135,000 Fibonacci extension level. This upward momentum is driven by significant accumulation by large holders, known as whales, and robust on-chain metrics that support a bullish outlook.

Market analysts highlight that despite a possible short-term pullback to the $93,000 range, the overall technical setup remains supportive of a sustained upward trajectory for Bitcoin. This resilience is crucial as it aligns with historical patterns and Fibonacci extension targets, suggesting that clearing the $107,000 resistance could catalyze further gains.

Titan of Crypto emphasizes that Bitcoin’s path to $135,000 remains intact, underscoring the importance of maintaining momentum following the recent retest of key resistance levels. This sentiment is echoed by the consistent increase in Bitcoin held by whale wallets, indicating strong conviction among institutional and high-net-worth investors.

Data from blockchain analytics reveal heightened on-chain activity, including rising transaction volumes and favorable liquidity conditions. These factors collectively underpin the current bullish market structure. According to Crypto analyst Doctor Profit, these on-chain signals contribute to a “breakout setup” that could propel Bitcoin into a new price discovery phase, validating technical patterns and providing confidence to market participants.

Despite the optimistic medium-term outlook, some experts caution that Bitcoin may experience a short-term retracement to the $90,000–$93,000 zone. This potential pullback aligns with a known CME futures gap and a liquidity-rich area that could serve as a strategic entry point for buyers. Doctor Profit describes this dip as a “gift” that would cleanse leveraged positions and strengthen the market’s base, suggesting that this correction could enhance Bitcoin’s sustainability on its path toward $135,000.

Bitcoin has remained within its current trading range for over 220 days, a duration comparable to prior accumulation phases that preceded major price surges. This extended period of consolidation is indicative of market participants building positions in anticipation of a breakout. The stability during this phase, supported by strong on-chain fundamentals and whale activity, increases the likelihood of a decisive move higher. Investors are advised to monitor key resistance and support levels closely to capitalize on potential entry points during this phase.

In conclusion, Bitcoin’s sustained strength above $107,000, underpinned by whale accumulation and favorable on-chain dynamics, sets a compelling stage for a breakout toward the $135,000 Fibonacci extension. While a short-term pullback to the $90,000–$93,000 range remains possible, it is widely regarded as a healthy consolidation that could reinforce the market’s foundation. Investors should remain attentive to momentum indicators and liquidity zones to navigate this critical juncture effectively. Overall, the technical and fundamental landscape supports a cautiously optimistic outlook for Bitcoin’s next major price movement.