$BTC Update: Whales Accumulating While Retail Holds Back! 🐳📉

The latest on-chain data for #Bitcoin is painting an intriguing picture! As BTC hovers around the $105,000 mark, we're seeing a clear divergence between institutional and retail behavior. Wallets holding 10 or more Bitcoin (the "whales" and "sharks") have significantly increased their holdings by 231 addresses in just the last 10 days! This signals a renewed confidence and strategic accumulation from larger players, often a precursor to bullish momentum. 📈

Meanwhile, smaller retail wallets (0.001 to 10 BTC) have decreased by over 37,000 addresses in the same period. This retail hesitancy is likely fueled by the recent range-bound price action and ongoing geopolitical uncertainties. But here's the kicker: retail exits combined with whale accumulation typically lead to a supply squeeze. Less supply, increasing demand from fresh capital, and we could be looking at an aggressive price surge soon! 🚀

Technically, #BTC is in tight consolidation, forming a descending triangle pattern with strong support around $103,000-$104,000. A break above the $108,000 trendline resistance could see us quickly retesting prior all-time highs! Keep an eye on those levels.

Macroeconomic factors, particularly the upcoming FOMC meeting and Fed Chair Powell's speech, are still creating some volatility. While a rate cut seems unlikely, any dovish language could be fuel for the bulls. Institutional demand remains strong, with US Bitcoin ETFs continuing to see inflows despite some short-term bearishness in derivatives markets.

The stage is set for a potential breakout. Are you ready? 💼💰