Bitcoin News Today: Bitcoin's Bull Case: Whales and Technical Gaps Align for $150K Surge

Bitcoin's recent price action has sparked renewed interest in key technical levels and market dynamics following a sharp correction to $103,000. Analysts and on-chain data highlight critical charts and indicators that traders should monitor for potential reversals or sustained bullish momentum.

Bitcoin has broken through a key downtrend line near $112,000, holding the 20-week moving average (SMA) as a pivotal support level at approximately $95,000–$100,000 Bitcoin (BTC) Breaks $112K Downtrend, Holds 20-Week MA; 7^[1]. This breakout, coupled with a strong 7% weekly candle, suggests a shift in momentum toward the upside. Analyst Michaël van de Poppe notes that BTC is on track for its highest weekly close in history, with projections of $150,000 this quarter and a new all-time high (ATH) by month-end Bitcoin (BTC) Breaks $112K Downtrend, Holds 20-Week MA; 7^[1].

Technical indicators such as Bollinger Bands have contracted to their tightest levels in history, signaling an impending volatility surge. Crypto analysts, including "Mr. Anderson" and Hunters of Web3's "Langerius," argue that such compression historically precedes sharp breakouts. Historical data from July 2025 shows a similar pattern, where BTC surged from $108,000 to over $122,000 within days . However, Glassnode's "CryptoVizArt" cautions that declining volatility over time may reduce the predictive power of such patterns .

Key resistance levels to watch include $114,827 and $118,617, with a breakout above $115,000 potentially opening the path to $120,000–$125,000 Bitcoin Sharks Are Accumulating Heavily—What This Means for …^[6]. Immediate support is at $113,345, followed by $107,274 and $103,950 Bitcoin Sharks Are Accumulating Heavily—What This Means for …^[6]. On the downside, a close below $103,000 could extend losses toward $98,200.

Whale activity remains a focal point. Mid-sized "sharks" (wallets holding 100–1,000 BTC) have accumulated over 3.65 million BTC since July 2025, pushing the net supply into a deficit Bitcoin Sharks Are Accumulating Heavily—What This Means for …^[6]. This accumulation, observed by Glassnode, aligns with historical bullish phases and reflects strong conviction from well-capitalized investors. Large traders have also flipped to a net short bias, indicating profit-taking on longs and new short positions amid BTC's recent reversal BTC Reversal 2025-10-08: Large Traders Flip Net Short as Profit …^[7].

The 20-week SMA and 21-week EMA (currently at $92.58K and $90.7K, respectively) continue to act as critical support bands, reinforcing a bullish market structure BTC Bull Market Support Bands Show Strong …^[4]. Analysts from Into The Cryptoverse suggest Bitcoin could reach $100K–$120K by mid-2025, contingent on maintaining upward momentum within these bands BTC Bull Market Support Bands Show Strong …^[4].

Market sentiment is further bolstered by long-term holders, who have added 167,000 BTC since March 2025 amid price dips below $90,000 Bitcoin Long-Term Holder Net Position Turns Green …^[5]. This accumulation, valued at $14 billion, signals a shift in investor behavior toward buying during volatility.

While short-term volatility remains a risk, institutional flows and ETF inflows have resumed, with spot Bitcoin ETFs seeing $274.6 million in inflows on March 17, 2025 Bitcoin Long-Term Holder Net Position Turns Green …^[5]. These developments, combined with technical indicators and whale activity, underscore a mixed but cautiously optimistic outlook for BTC.