$BTC

Bitcoin at the market peak or a temporary drop?

Bitcoin shows signs of meeting the conditions needed to create a market peak. Currently, over 98% of the total Bitcoin supply is in profit, surpassing the 95% threshold typically associated with market peaks. Historically, Bitcoin has recorded price reversals and declines after such conditions, but this time the situation may be different.

A high percentage of profitable supply suggests that many investors are sitting on gains. While this usually indicates a market peak and a possible correction, it may also suggest sustained strength, especially when the behavior of whales plays a crucial role. In the past, large Bitcoin holders (whales) have been able to move the markets, potentially preventing a drastic reversal.

A closer look at whale holdings shows that large investors, especially those with holdings between 10 and 10,000 BTC, are aggressively accumulating. Just in the last month, these whales have acquired over 83,100 BTC, worth about 8.5 billion dollars. This influx of large investments counters the selling activity observed among smaller investors.

If Bitcoin's upward momentum resumes, it could break the resistance at $105,000 and head towards $106,265. A successful break of this level could propel Bitcoin to $110,000, creating a new all-time high (ATH). This would mark a significant milestone in the ongoing bullish run of Bitcoin, driven by institutional interest and whale accumulation.