Bitcoin Surges 10% as Whales Accumulate, Eyes $100,000

Bitcoin has shown remarkable strength over the weekend, leading to expectations of a bullish monthly close. The current trading setup suggests that Bitcoin's price is not only poised to rise above $100,000 but also to establish a new all-time high above $110,000. The crypto markets have exhibited significant strength since the early trading hours, with most tokens maintaining inflated prices. Altcoins such as PENGU, XMR, and DEEP have seen double-digit gains, while some others have experienced minor losses. Bitcoin has sustained above $94,000 as global trading volume begins to recover. With the start of American trading, buying pressure is increasing, and positive sentiments are driving the Bitcoin price to rise above crucial resistance levels.

In recent days, bulls have exerted significant effort to elevate the Bitcoin price above the consolidation around $85,000. The volume surged from $15 billion to $55 billion before gradually dropping to around $20 billion. As spot retail traders have refrained from entering fresh trades, whales have begun aggressive accumulation. Since the latest rebound, whales have increased their accumulation, indicating a fresh bullish case. Data from Glassnode shows that whales have been aggressively accumulating over the past few days, with the number of wallets holding over 1000 BTC rising from 17.2K to 17.3K. This suggests that whales are anticipating a bullish trajectory for the token and are buying Bitcoin more aggressively than ever before, hinting at a significant price action on the horizon.

After breaking above the falling wedge, the Bitcoin price surged extensively and surpassed the local resistance at $88,500, entering a pivotal range between $94,170 and $94,900. The bulls are working to keep the rally within this range. Once the bulls accumulate the required strength, the token is expected to trigger a fresh upswing, elevating the levels beyond $100K. The daily chart of Bitcoin shows a progressive price closely consolidating around the gains, experiencing equal bullish and bearish pressure. The RSI is about to enter the overbought zone, and the CMF has maintained a decent ascending trend, suggesting a significant inflow of money onto the platform and hinting at rising bullish sentiments within the market. Once the Bitcoin price rises above the pivotal resistance at $98,500 to $99,000, rising above $100,000 is imminent.

Bitcoin's price behavior has historically followed identifiable fractal patterns, with predictable boom-and-bust dynamics at the heel of the bull market. Analysts have identified $100,000 as a primary psychological and technical level that could serve as future price targets. This week, a survey of 2,000 crypto investors found that 33% expect Bitcoin prices to rise, while 35.7% think they will stay the same. Bitcoin is currently undergoing a critical 3-day retest that could trigger a major rally if successful. Holding above the key support level is crucial to maintain this momentum. According to the analyst's forecast, Bitcoin could hit a maximum price of $167,598.22 in 2025. Increased adoption could push the BTC price beyond this level. Analysts also predict that Bitcoin could reach $120,000 in the second quarter of 2025 and $200,000 by the end of the year. Bitcoin is poised to break $100,000 with little difficulty amid capital inflows.