Bitcoin's Whale Activity and Declining Supply Drive 4.97% Exchange Stablecoin Ratio Surge

Bitcoin’s recent surge is attributed to significant whale activity and a declining supply, positioning the cryptocurrency for a potential rise toward $100,000. Over the past week, more than 17,000 BTC have exited exchanges, indicating a substantial accumulation by large holders. This reduction in available supply often leads to stronger price movements, especially when demand rises concurrently.

The Exchange Stablecoin Ratio has climbed by 4.97%, revealing that stablecoins on exchanges are growing faster than Bitcoin deposits. This ratio is a leading indicator of buying potential, as it reflects how much capital is ready to be deployed into the market. With Bitcoin’s exchange reserves now sitting at 2.549 million BTC, the market is experiencing a notable decline in sell-side liquidity, which often leads to stronger price movements.

IntoTheBlock data showed that 86.22% of Bitcoin holders were in profit at press time, with no addresses at a loss. This widespread profitability could lead to profit-taking under normal conditions. However, the Net Unrealized Profit/Loss (NUPL) ratio was at 0.516, indicating that investors were sitting on gains but were not rushing to exit. Typically, high NUPL values increase the risk of sell pressure, yet the absence of underwater holders points to strong market confidence. Investors appear comfortable holding longer, possibly expecting a continued rally based on both technical strength and macro optimism. This patience reduces downward pressure and keeps price momentum intact.

The MVRV ratio, which compares market value to realized value, rose by 5.59% to 2.12, indicating that Bitcoin’s current valuation remains reasonable. Historically, readings above 3.7 have preceded market tops, while values between 2 and 3 often accompany healthy growth phases. With the ratio still below overheating levels, BTC appears to have more upside potential before valuation becomes a concern.

Bitcoin recently broke out of a descending wedge, a pattern known for bullish reversals, and confirmed support at $83,462 after flipping it from resistance. The next critical resistance level lies near $98,211, which could serve as a springboard toward six figures if breached convincingly. Additionally, the Stochastic RSI reflects bullish momentum, with a crossover in overbought territory supporting near-term continuation. As long as BTC maintains strength above the $93K region, the rally remains intact and the path toward $110,000 grows increasingly feasible.

All key indicators—from on-chain supply and profit metrics to valuation models and technical structure—point toward a market that is gradually aligning for a strong upward continuation. If Bitcoin sustains its current momentum, backed by institutional conviction and diminishing sell pressure, it stands a realistic chance of breaching the elusive $100K mark in the weeks ahead.