Bitcoin’s recent price consolidation hasn’t deterred major investors, as new data reveals an extraordinary surge in whale accumulation totaling 79,244 BTC in just seven days. This significant development comes as long-term holders show remarkable resilience in the current market landscape.
Key Findings from Santiment’s On-Chain Analysis
According to leading analytics platform Santiment, Bitcoin’s network is experiencing unprecedented activity from key stakeholders. Wallet addresses holding between 10-10,000 BTC have increased to 151,820, marking a substantial rise in institutional and wealthy individual participation.
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Breaking Down the Accumulation Trends
- Daily acquisition rate: 11,321 BTC
- Total active wallets: 13.57 million
- Whale purchase volume: 79,244 BTC in 7 days
- Key holder growth: 151,820 addresses with 10-10,000 BTC
Expert Analysis and Price Implications
Technical analyst Ali Martinez has identified a notable trend among whale addresses holding 1,000-10,000 BTC, with these entities accumulating approximately 30,000 BTC over the past 96 days. This pattern aligns with predictions of Bitcoin reaching $140,000 after completing its current consolidation phase.
Market Outlook and Technical Analysis
The current accumulation phase could signal an impending price movement, with analysts like Titan of Crypto projecting a potential surge to $135,000. This forecast is supported by the emergence of a Descending Broadening Wedge pattern on weekly charts.
Frequently Asked Questions
What does this whale accumulation mean for Bitcoin’s price?
Historical data suggests that significant whale accumulation often precedes major price movements, typically to the upside.
How long might this consolidation phase last?
Based on previous patterns, consolidation phases typically last 2-4 weeks before a decisive move occurs.
What are the key resistance levels to watch?
Current technical analysis identifies major resistance zones at $110,000, $120,000, and $135,000.
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