Whales Accumulating as BTC Price Breaks Past $99K: What Next?

CoinMarketCap01-07 22:49

Bitcoin (BTC) price has climbed back to the $99,000 price level and is giving hope to traders and institutional investors alike. The flagship of digital assets saw a sharp increase, hitting $101,951 (...

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This movement has made it push its market capitalization to $2.01 trillion showing improved dominance in the crypto king.This surge happens at a time when Bitcoin ETF demand is increasing and digestion of the cryptocurrency is becoming more popular once again. Its Fully Diluted Valuation  shoots above $2.13 trillion.Whales and institutions are accumulating $BTC.2 fresh wallets withdrew 261 $BTC from #Binance today.Kulr Technology received 213.4 $BTC from #CoinbasePrime 2 hours ago and currently holds 430.6 $BTC.…Those red zones on the chart represent huge areas of resistance, especially in the $102,000 mark. To validate its rally, Bitcoin needs to break up this critical level. In the short term, BTC price charts show that it could easily take out the $105,000-$110,000 area, once they break defi","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4594":"比特币ETF概念","FDV":"FEDERATED HERMES U.S. STRATEGIC DIVIDEND ETF","BK4588":"碎股","BTC":"Grayscale Bitcoin Mini Trust","ADX":"亚当斯快递","IBIT":"iShares Bitcoin Trust","BK4601":"加密货币现货ETF","BK4585":"ETF&股票定投概念"},"translate_title":"随着BTC价格突破99,000美元，鲸鱼不断积累：下一步是什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ADX":1,"BTC":1,"FDV":1,"IBIT":0.9},"content_text":"Bitcoin (BTC) price has climbed back to the $99,000 price level and is giving hope to traders and institutional investors alike.\nThe flagship of digital assets saw a sharp increase, hitting $101,951 (+4.03% within 24 hours). This movement has made it push its market capitalization to $2.01 trillion showing improved dominance in the crypto king.\nThis surge happens at a time when Bitcoin ETF demand is increasing and digestion of the cryptocurrency is becoming more popular once again. Its Fully Diluted Valuation (FDV) shoots above $2.13 trillion.\n\n\n\nBitcoin reclaims $99K!Whales and institutions are accumulating $BTC.2 fresh wallets withdrew 261 $BTC($25.9M) from #Binance today.Kulr Technology(@KULRTech) received 213.4 $BTC($21.09M) from #CoinbasePrime 2 hours ago and currently holds 430.6 $BTC($42.71M).… pic.twitter.com/g5S0jDuXSw— Lookonchain (@lookonchain) January 6, 2025\n\n\n\nTrading volumes have also skyrocketed, with Bitcoin’s 24-hour trading volume jumping 131.49%, to $45.58 billion. With this substantial activity, it’s clear that interest in the cryptocurrency is increasing and investors are positioning themselves ahead of what many expect will be a historic bull run.\nWhale Activity Drives Market Sentiment\nHistory shows that whenever their accumulation activity indicator was reading green, it has been a bullish signal for the cryptocurrency market, as also seen today. On-chain data shows two new wallets withdrew a total of 261 BTC (around $25.9 Million) emergency from Binance.\nSuch withdrawals often are interpreted as another sign of confidence in the value of Bitcoin. In this case, an indication that Bitcoin owners withdraw those holdings to private wallets but do not remain in exchanges.\nKulr Technology, a major institutional player, also made a noteworthy transaction today. Coinbase Prime sent 213.4 BTC (or approximately $21.09 million) to the company, a signal that institutions are investing some interest in Bitcoin potential.\nAccording to the website, Kulr Technology now has a total of 430.6 BTC which is worth $42.71 million. The movements suggest that institutional players are making Bitcoin a store of value and an inflation hedge.\nBTC Price Technical Analysis: Key Levels to Watch\nThe return of bullish sentiment has been stoked with technicals indicating a strong upward trend in BTC price as it surged past $99,000. The 4 hr trading chart shows that Bitcoin’s market is entering into a strong ascending price channel for Bitcoin. Earlier today it briefly climbed above $102,208 and fell back slightly to $101,268 at the time of writing.\nThose red zones on the chart represent huge areas of resistance, especially in the $102,000 mark. To validate its rally, Bitcoin needs to break up this critical level. In the short term, BTC price charts show that it could easily take out the $105,000-$110,000 area, once they break definitively above $102,000, analysts believe.\n\n\n  4-hour BTC/USD Chart | Source: TradingView\n \n\nRight now the Average Directional Index (ADX), a watch for trend strength, is 34.45. The value of this tells us that the upward cadence is strong enough to continue to rise in price. Moreover, Bitcoin’s volume-to-market cap ratio of 2.25% indicates healthy volume trading too making things even more bullish.\nThe post Whales Accumulating as BTC Price Breaks Past $99K: What Next? appeared first on The Coin Republic.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2501578803"}