Bitcoin News Today: Whale Accumulation Signals Battle for Bitcoin's Next Peak

Bitcoin remains steady near the $115,000 level despite a recent pullback from its all-time high, with whale activity signaling potential accumulation. The cryptocurrency has dipped approximately 6% since reaching its peak on August 14, with a 3% decline recorded over the past week. Despite this, whale wallets have been quietly accumulating significant amounts of BTC. According to Santiment data, wallets holding between 10–10,000 BTC added over 20,000 BTC since the market’s recent correction, bringing the total accumulation since March to over 225,000 BTC. This behavior is often interpreted as a precursor to a potential price recovery [1].

The current market sentiment is further influenced by ETF outflows, which have weighed on Bitcoin’s short-term prospects. On August 18, U.S. spot Bitcoin ETFs experienced $121 million in net outflows, pushing monthly outflows to nearly $140 million. This contrasts with Ethereum, which has seen a surge in inflows. Ethereum ETFs have attracted $2.83 billion in inflows over the past month, with year-to-date inflows reaching $11 billion compared to Bitcoin’s $5.3 billion. Analysts suggest that this shift in investor preference may be driven by growing expectations for staking approvals in Ethereum ETFs [1].

Despite ETF outflows, on-chain data indicates that institutional and large holders are positioning themselves for future price movements. Santiment highlights the strong historical correlation between whale activity and price trends, suggesting that these accumulators may be preparing for a potential rebound. Market analyst Rekt Capital notes that Bitcoin’s current position is reminiscent of previous cycles where shallow retracements preceded sharp rallies. In both 2017 and 2021, pullbacks of 25–29% acted as technical resets before new highs were established. If $114,000 holds as support, a new phase of price discovery could follow [1].

Technical indicators also reflect a mixed outlook. On the 4-hour chart, Bitcoin is below the midline of its Bollinger Bands, indicating downward pressure. However, the bands are beginning to tighten—a sign of potential volatility. The relative strength index is nearing oversold territory, and the 10–30 EMA is bearish, while longer-term EMAs suggest support remains intact. If whales continue to accumulate and $114,000 holds, Bitcoin could potentially test the $118,000–$120,000 range. A retest of the previous all-time high of $124,000 is also feasible if volume confirms the trend [1].

The broader market context adds complexity to the outlook. While Bitcoin remains relatively stable, other cryptocurrencies have experienced sharper corrections. Ethereum, for instance, has faced significant liquidation risks, with over 56,000 ETH positions at risk of being liquidated near $4,170. The cascading effect of leveraged positions has raised concerns about further volatility. However, some analysts argue that the current dip may represent a buying opportunity for institutional players. Crypto analyst CrypNuevo noted that Bitcoin’s recent all-time high was followed by a $1 billion liquidation event, suggesting that large participants may have absorbed the forced selling [2].

Source: [1] Bitcoin Steady at $115K as Whales Buy Despite ETF Outflows (https://crypto.news/bitcoin-etfs-outflows-btc-whale-buys-reversal-2025/) [2] $500M Liquidations Rock Ethereum and Bitcoin (https://bitcoinist.com/500m-liquidations-rock-ethereum-and-bitcoin-crash/)