Whales accumulate $2.24 billion in BTC as key metrics hint at a breakout.
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Bitcoin’s bullish price action highlighted whale activity and network growth, targeting $110,000.
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Mixed market signals, including the exchange whale ratio, reflected cautious optimism amidst a potential breakout.
Bitcoin [BTC] whales have purchased over 22,000 BTC worth a staggering $2.24 billion in the past 72 hours, sparking bullish momentum in the market.
With Bitcoin trading at $105,275.37 and up 3.78%, at press time, the surge in whale activity highlights growing confidence among large holders.
However, can this upward trend push Bitcoin past $110,000 and confirm a new bullish cycle?
Bitcoin price action signals bullish potential
Bitcoin’s price chart was displaying a textbook cup and handle formation, often signaling a bullish continuation.
The pattern developed after BTC established strong support near $92,256, followed by a breakout above $106,600, a critical resistance level.
The double-bottom structure further solidifies the bullish case, as this technical indicator historically leads to price recoveries.
BTC’s recent rally appears to have enough momentum to target the next significant level of $110,000.
However, if the price fails to hold above $106,600, a short-term pullback could occur, testing lower support levels. Sustained volume and further buying pressure are essential for Bitcoin to maintain its upward trajectory.
Source: TradingView
BTC active addresses show growing network demand
Bitcoin’s network is witnessing increased activity, supporting the bullish outlook. Over the past week, active addresses have risen by 9.93%, indicating more participation from existing holders.
Additionally, new addresses grew by 1.76%, signaling fresh demand as new users entered the ecosystem. This rise in network activity aligns with the recent price action, reinforcing the narrative of heightened interest in BTC.
Source: CryptoQuant
Exchange Whale Ratio highlights cautious optimism
The exchange whale ratio is 0.96, marking a slight 1.03% increase. This ratio reflects the proportion of top inflows into exchanges from whales relative to total inflows.
While whales are accumulating BTC, the uptick in exchange activity indicates some are preparing to take profits or mitigate risks. This data suggests a mix of optimism and caution.
A further decline in the ratio could strengthen bullish sentiment, signaling a reduced likelihood of selling pressure.
Source: CryptoQuant
BTC liquidations reveal market indecision
Bitcoin liquidations in the past 24 hours provide insights into current market sentiment. Long positions worth $2.4 million were liquidated, compared to $1.16 million in shorts, highlighting a balanced tug-of-war between bulls and bears.
This equilibrium reflects market indecision, as traders await confirmation of BTC’s next significant move.
Source: Coinglass
Read Bitcoin’s [BTC] Price Prediction 2025–2026
Bitcoin’s technical patterns, rising network activity, and whale accumulation point to a potential breakout beyond $110,000. However, cautious exchange activity and liquidation trends suggest some market hesitation.
If BTC can maintain its bullish momentum and sustain levels above key resistance, a move past $110,000 seems likely in the near term.
