The current value of $BTC stands at a robust figure of 104,435 dollars, striving determinedly to breach the formidable resistance threshold of 105,000 dollars. While the leading digital asset did not manage to surpass this key barrier days ago, it is far from being subdued; its intrinsic strength remains intact.
In this crucial market moment, large investors known as 'whales' are emerging as a vital support capable of neutralizing selling pressure and pushing Bitcoin towards unprecedented heights. Their strategic behavior could be the determining factor in overcoming current obstacles.
Current on-chain metrics suggest that Bitcoin may be setting up conditions associated with a potential market peak. With more than 98% of its total supply recording profits, it has surpassed the threshold of 95% that typically precedes significant corrections. Although traditionally these conditions have preceded price pullbacks, the current scenario presents nuances that could make it different.
While this high proportion of supply in profit commonly indicates a potential ceiling and correction, it can also be interpreted as a sign of resilience and sustained confidence from holders.
Large-scale investors, specifically those with holdings between 10 and 10,000 BTC, have been intensively and methodically accumulating assets. Just in the past month, these powerful buyers have acquired the impressive amount of over 83,100 BTC, which represents an estimated value of 8.5 billion dollars.
