#BTCWhaleMovement Market behavior like this usually foreshadows large moves,” Check explained in his latest Checkonchain newsletter, suggesting Bitcoin might reach $120,000 faster than expected.

This view comes amid broader bullish sentiment. Falling implied volatility, climbing short positions, and stablecoin inflows between $4–6 billion per month all hint at rising accumulation by major players. At the same time, improving macro conditions, Trump’s pro-crypto stance, and talk of fresh liquidity injections in the U.S. are fueling optimism.

However, not everyone is convinced. Critic Jim Chanos argues that Strategy’s stock is overpriced, calling Saylor’s approach “financial engineering” and dismissing investor enthusiasm as irrational.

Still, with signals aligning and risk appetite growing, the stage may be set for Bitcoin to make its next move.