Bitcoin whales absorbed 300% of the new mined BTC: Will $100,000 be the next stop?

A technical price breakout of BTC is occurring that could send Bitcoin towards $100,000 in May.

The wealthiest Bitcoin traders and investors

are increasingly bullish on BTC despite facing downside risks from unfavorable macroeconomic factors, according to the latest on-chain data.

Bitcoin whales absorb 300% of the new supply

Bitcoin whales and sharks are absorbing BTC at record rates, more than 300% of the annual issuance, while exchanges are losing coins at a historic pace, according to Glassnode.

Notably, the annual absorption rate of Bitcoin by exchanges has fallen below -200% as outflows continue. This indicates a growing preference for self-custody or long-term investment.

Meanwhile, the largest holders (100–1,000+ BTC) are accumulating more than three times the new issuance, marking the fastest accumulation rate among sharks and whales in Bitcoin's history.