It broke a new record above $109,000 before facing sharp resistance and retreating. The rapid pullback emphasized the psychological weight of the $110,000 level, which now stands as a key obstacle for bulls.
Despite the rejection, whale accumulations have quietly increased, suggesting that large holders may be positioned for another rise. With bullish Ichimoku cloud signals, BTC seems to be building a technical foundation—although follow-through above resistance remains essential.
Whale activity is rising: What could 2,019 large BTC holders mean for the market?
The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—increased from 2,007 to 2,021 between May 13 and May 19, before dipping slightly to 2,019 yesterday.
While the net change is small, the upward move indicates renewed accumulation among large holders during the recent price range. Fluctuations in this metric often reflect shifts in sentiment among institutional or high-net-worth investors, making it a crucial signal for broader market trends.
Even a slight increase in whale addresses can indicate rising confidence, especially during uncertain or consolidating price movements.
Bitcoin Whales.
Tracking Bitcoin whales is important because these entities have enough capital to significantly influence the market.
Their behavior often precedes significant price moves, either by providing liquidity support during pullbacks or leading rallies through large-scale accumulation.
The current number of whales indicates fundamental support, with large holders positioned either for a breakout or to reinforce long-term conviction. If this trend of accumulation continues or resumes, it could indicate the formation of a bullish foundation beneath the surface, even if the price remains range-bound in the short term.
The Ichimoku cloud for Bitcoin flashes a bullish continuation signal.
The Ichimoku cloud structure for Bitcoin remains strongly bullish. The price is well positioned above the cloud, which is thick and green—indicating strong support and a continuation of the upward trend.
The leading span A (the upper edge of the cloud) climbs above the leading span B, confirming a positive momentum outlook.
This upward-tilting cloud indicates that the bulls are in control and that the path of least resistance is still upward.
Ichimoku cloud for Bitcoin.
The Tenkan-sen line (blue line) is above the Kijun-sen line (red line), maintaining a healthy bullish spread between the two. This arrangement is a classic confirmation of short-term bullish strength.
At the same time, the Chikou Span line (the delayed green line) is well above the price candles, reinforcing the trend from a historical perspective.
As long as the price remains above the blue and red lines—and the cloud remains supportive—the bullish scenario is likely to continue building strength.