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ZyCrypto 2025-01-26 19:45:22

Bitcoin Eyes Further Surge as Whales Amass 200,000 BTC in a Month

Bitcoin (BTC) traded with muted volatility on Sunday, reflecting the subdued price movement observed throughout the week. Notably, the crypto asset has been trading in a tight range after facing significant resistance around the $107,000 level, further pressured by profit-taking from retail investors following Trump’s pre-inauguration surge. Despite this, bullish sentiment remains strong, supported by the ongoing accumulation of Bitcoin by whales in the past month, which appears to be helping stabilize the market. On Saturday, analysts from CryptoQuant highlighted this development noting, “Large investors are driving Bitcoin price gains since the US election. Holdings grew from 16.2 million to 16.4 million BTC, while small investors reduced theirs from 1.75 million to 1.69 million.” Additionally, on-chain data from Santiment corroborates the influence of these whales. Earlier this week, the firm reported that Bitcoin whales have been picking up steam, particularly following the US inauguration and the new all-time high of $109.3K. “Key stakeholder participation has played a major role in bull cycles seen in crypto over the past two years, and the context of these spikes appear to be bullish.” Wrote Santiment. On-chain data also shows that long-term Bitcoin holders are exerting minimal selling pressure. Only 18% of Bitcoin deposits on Binance come from long-term holders (typically those who have held BTC for more than 155 days 0, indicating that seasoned investors are largely avoiding significant selling. This highlights a strong HODLing sentiment in the market despite the volatility. Furthermore, Binance’s Coin Days Destroyed (CDD) metric, which measures the movement of older coins, is at its lowest level. This suggests minimal activity from older coins being spent or moved into exchanges, reinforcing the stability and patience of long-term holders. In line with these trends, US President Trump’s recent crypto executive order has also sparked increased discussion about Bitcoin’s role in the broader digital asset landscape. While the order rescinds prior regulations, it has stirred excitement about Bitcoin’s regulatory future and its potential as a strategic reserve asset . That said, various analysts have also weighed in on the asset’s potential price movements. Analyst Ali Martinez suggests that Bitcoin could surge as high as $200,000 as it looks to complete the final phase of the Wyckoff pattern. “ According to the Wyckoff Method, BTC could be approaching its final leg up before entering the Distribution Phase,” Martinez tweeted early Sunday, echoing the views of fellow analyst Titan of Crypto. On the other hand, Michael van de Poppe, founder of MN Trading, has suggested the possibility of a short-term correction, predicting that Bitcoin could dip to the $95,000-$97,000 range before resuming its upward trajectory. “I wouldn’t be surprised to see a correction towards $95-97K on BTC, taking liquidity and continuing the upside from there,” Poppe wrote . Bitcoin was trading at $105,075 at press time, reflecting a 0.39% increase in the past 24 hours.

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