$BTC

Bitcoin is currently trading around 104,731 USD, fluctuating during the day from 104,005 to 105,047 USD. Below are some notable highlights:

1. Institutions and whales continue to accumulate

• On-chain data from Glassnode and Crypto Rover shows that whales – wallets holding >1 k BTC – are actively accumulating over 800 k ETH (similar to Bitcoin) each day, and more than 546,000 BTC have been accumulated since July 2024  .

• This creates a support supply pressure, driving the price in the 100–110 k USD range.

2. Market sentiment and macro factors

• The 105–108 k USD range is strong support; if surpassed, BTC could retest the ATH ~112 k USD established in mid-May .

• However, Middle East tensions and waiting for signals from the Fed are creating slight downward pressure .

3. Policies and trends of corporations

• Large corporations like MicroStrategy (now renamed to Strategy) and Tesla continue to want to accumulate BTC with plans to use preferred stock to supplement bitcoin .

• This and Trump’s executive order to establish a “Strategic Bitcoin Reserve” provide short-term support for BTC prices .

Conclusion:

BTC is in a stretching phase around 105 k USD, supported by strong accumulation pressure from whales and institutions. If it surpasses 108 k USD, a retest of the ATH around 112 k USD is not excluded. Investors should closely monitor macro factors such as decisions from the Fed and geopolitical fluctuations.