Bitcoin News Today: Bitcoin’s Mature Bull Run Defies High Rates, With Whales and Holders in a High-Stakes Game of Control

Bitcoin's price recently surpassed $113,000, continuing a bullish market characterized by steady, measured gains and a reduced frequency of sharp corrections. Analysts have described the current phase as the "most balanced" bull cycle in Bitcoin’s history, marked by more sustainable retracements compared to previous cycles defined by sharp upswings and steep declines. This stability has been attributed to a more mature investor base and a shift away from extreme market sentiment seen in the 2021 cycle [1]. Unlike past bull markets, the current rally has occurred amid a high-interest-rate environment of 4.5-5.5%, challenging the prevailing narrative that crypto thrives only during periods of ultra-loose monetary policy [1].

At the same time, Bitcoin found support near the Short-Term Holder (STH) Realized Price during its latest dip. This on-chain metric represents the average cost basis of investors who have held their coins for 155 days or less. Analysts noted that the price briefly dipped below the STH Realized Price of around $107,500 before rebounding [3]. The STH Realized Price historically acts as a support level during bull market corrections, but a breakdown could signal a shift to bearish sentiment, as seen in February 2025 when Bitcoin’s price dropped nearly 20%. The latest dip appears to have tested this level without a definitive breach, suggesting that short-term holders still view the current phase as bullish [4].

Despite ongoing accumulation by both retail and institutional investors, Bitcoin has faced pressure from whale activity. A prominent "OG" whale recently distributed 250 BTC ($28.2 million) to the Binance exchange, adding to a larger sale of 750 BTC the prior day. Whale selling is typically associated with market tops, as highlighted by trader Peter Brandt, who noted that such activity reflects increased supply and distribution. However, despite this, Bitcoin bulls have managed to maintain control of the price action, with the asset gaining 1.6% in a single day to hit $113,365 [2].

Analysts have also highlighted the importance of accumulation patterns in predicting future price movements. According to Bitwise’s Andre Dragosch, both retail and institutional accumulation are at their highest levels since April, a trend that historically precedes major price breakouts. Furthermore, the Bitcoin Coinbase Premium Index has shown signs of weakening U.S. demand, a red flag for bulls, but overall on-chain data still suggests strong buying interest [2]. The continued accumulation suggests that the market is positioning itself for a potential breakout, although further analysis of key resistance levels will be essential for confirming the direction of the trend.

The broader market context also includes significant developments in Ethereum. A major Bitcoin whale has shifted $3.8 billion in holdings to Ethereum, signaling a diversification trend among large investors. This move, which saw the sale of 4,000 BTC and the subsequent purchase of 96,859 ETH, reflects a growing recognition of Ethereum’s utility in areas like staking and decentralized finance [6]. Analysts argue that such whale movements reinforce Ethereum’s position as a core asset in the crypto market and highlight the maturation of investment strategies in the sector. With regulatory clarity improving and institutional adoption on the rise, Ethereum’s role in the next bull cycle appears increasingly secure.

Source:

[1] Bitcoin Hits $113K in “Most Balanced” Cycle as Smarter Web Company Purchases 45 BTC (https://finance.yahoo.com/news/bitcoin-hits-113k-most-balanced-113253668.html)

[2] Bitcoin ignores new 'OG' whale selling as BTC price hits 113k (https://cointelegraph.com/news/bitcoin-ignores-new-og-whale-selling-btc-price-hits-113k)

[3] Bitcoin Finds Support At Short-Term Holder Cost Basis, But ... (https://www.mitrade.com/insights/news/live-news/article-3-1087004-20250902)

[4] Bitcoin Price Closes Below STH Realized Price For The ... (https://www.mitrade.com/insights/news/live-news/article-3-1083050-20250901)

[5] Bitcoin short-term holders spark rare BTC price bottom signal (https://cointelegraph.com/news/bitcoin-short-term-holders-spark-rare-btc-bottom-signal-107k)

[6] BTC Whale Now Holds $3.8B in ETH, Signaling Market Maturity (https://www.blockchain-council.org/bitcoin/btc-whale-3-8b-eth-market-maturity/)