Bitcoin News Today: Bitcoin consolidation near $114K as whales and institutions build positions ahead of potential breakout

Bitcoin appears to be entering a pivotal phase as technical indicators, whale activity, and institutional accumulation align to suggest a potential breakout above $114K. The cryptocurrency is currently consolidating near its 50-day Exponential Moving Average (EMA), at $112,845.63, with bulls defending key support levels and building a foundation for a potential rally [1]. A recent analysis highlights that if Bitcoin manages to break through $114K resistance with strong volume, it could signal the beginning of a larger upward trend [1].

A major institutional player has reinforced bullish sentiment through a large-scale accumulation strategy. MetaPlanet recently announced a $3.6 billion fundraise to purchase over 30,000 BTC, further establishing Bitcoin as a credible long-term reserve asset [1]. This move is part of a broader trend where corporations are increasingly viewing Bitcoin not as a speculative asset, but as a strategic store of value. The shift in perception is echoed by figures like MicroStrategy CEO Michael Saylor, who recently reiterated his bullish stance, claiming “Winter is not coming back” [1].

Whale activity also suggests high conviction in the current setup. A $45 million leveraged long position, opened on the Hype platform using 40x leverage, highlights the aggressive positioning of high-cap traders. The trade was executed at $112,854.10, and as of the latest data, the position is showing profits nearing $193,000. This kind of high-leverage, high-confidence play typically precedes larger market moves [1]. On-chain data from CryptoRank also shows significant trading volumes of 1,000 BTC or more on Binance, where whales are active. Over 56 million such trades have been recorded on the platform, far outpacing activity on other major exchanges [6]. The liquidity available on Binance for large orders makes it a critical platform for tracking institutional sentiment and potential market direction [6].

From a technical perspective, Bitcoin is currently trading near $113,727.04 on a 4-hour chart, with early signs of a momentum shift. The MACD histogram is shrinking while the RSI is recovering from oversold levels. These signals, combined with a bullish retest of the EMA50, indicate a potential reversal pattern. According to Mr. Wall Street, a well-known market analyst, a successful breakout could lead to price targets as high as $140,000 [1].

Despite the positive buildup, Bitcoin has faced challenges in breaking above the $115,000 resistance level, a ceiling that has held firm for several weeks [3]. Some traders had expected a more direct push toward $120,000, but the current consolidation suggests that further accumulation and confidence building are required before a sustained move upward can take place. Geopolitical uncertainty has also introduced volatility into the market, with Bitcoin briefly breaking below the $114K support level amid rising global tensions [9]. Analysts suggest that until these external pressures ease, a breakout may remain constrained [9].

On the flip side, long-term holders (LTHs) remain a stabilizing force in the Bitcoin market. According to Abrahamchart, a crypto analyst at CryptoQuant, the Net Unrealized Profit/Loss (NUPL) ratio remains above 0.5, indicating that LTHs continue to hold substantial unrealized gains and show no signs of panic selling [6]. In contrast, short-term holders (STHs) are more likely to take profits during rallies, contributing to temporary corrections [6].

As Bitcoin trades within a range between $114K and $120K in early August, the market remains in a critical consolidation phase [8]. While short-term corrections are expected, the broader picture remains bullish, supported by institutional accumulation and the continued reluctance of long-term holders to offload their positions [6]. If whales continue to load up on Binance and macroeconomic conditions remain favorable, the path toward $116K and beyond could become increasingly viable [1].

Source:

[1] Cryptonewsland - https://cryptonewsland.com/will-bitcoin-break-114k-as-whales-and-instituti/

[3] AInvest - https://www.ainvest.com/news/bitcoin-news-today-bitcoin-stuck-115k-resistance-bullish-accumulation-etf-inflows-2508/

[6] NewsBTC - https://www.newsbtc.com/bitcoin-news/over-56-million-whale-trades-on-binance-is-bitcoin-headed-for-another-correction/

[8] Cryptopolitan - https://www.cryptopolitan.com/crypto-rally-faces-august-chill/

[9] AInvest - https://www.ainvest.com/news/bitcoin-news-today-bitcoin-falls-114k-geopolitical-tensions-chain-data-signal-deeper-correction-risk-2508/