Bitcoin whale activity is still neutral when entering price discovery – bullish signal?
Bitcoin has officially entered the unknown territory after surpassing its previous all-time high of $109,000, climbing to a new peak of $112,000. The move comes after several days of close integration and speculation, and despite the ongoing macroeconomic headwinds, the Bulls eventually seized control. Global financial markets remain highly volatile, shaking due to ongoing geopolitical tensions, and fears of a recession are growing as U.S. fiscal yields rise.
Interestingly, despite the surge in prices, encrypted data showed a noticeably no aggressive whale sales. The whale that exchanges traffic metrics tracks the number of large transfers from wallets to exchanges, indicating that the whale is not in a hurry to download its holdings at this time. Exchange inflows from large wallets are much lower than what is usually seen near the top of the loop.
Relatively gentle whale activity shows confidence in further upward potential, or at least willingness to make the market better before earnings are realized. As momentum builds and supply remains tight, Bitcoin’s breakthrough could be the beginning of a bigger move – if support and market sentiment don’t change.
Whale behavior signal indicates Bitcoin maintains bullish structure
Bitcoin is currently trading just below $110,000, but it continues to maintain its short-term bullish market structure. Despite the recent answers to a new all-time high of $112,000, BTC still occupies a key support area, which many analysts interpret as a sign of strength. Some hope to continue to move towards higher price levels, while others remain skeptical, warning that potential breakdowns are below $100,000 if momentum fades or macro risks are intensified.
Continuing global tensions and financial uncertainty continue to shape market sentiment. The rising geopolitical risks and the rising recession have caused volatility in traditional markets, but Bitcoin has shown resilience. Optimism surrounding the broader bullish phase continues to grow, especially as chain signals remain constructive.
Top analyst DarkFost provides important insights into whales’ behavior, a key variable during the market top period. According to his analysis, whale activity remains “quite neutral” despite BTC entering the price discovery field. The whale that exchanges traffic metrics confirmed that the volume sent from large wallets to exchanges is still soft, currently about $300 million a day. This is much lower than the $1 billion+ inflow observed at the previous top, such as the end of 2021.
This restricted whale activity shows that major holders will not rush to sell and may see more gains before profits are realized. Despite short-term volatility forecasts, there is a lack of hint of distribution that continues to support higher prices.
If Bitcoin can recoup $110K and stay fixed, the stage can be set to another leg, possibly drawing in the capital next to it and in further upside room. Before this, everyone’s eyes remained in macro conditions, and the whale quietly held the ground.
BTC enters price discovery: key technology levels
Bitcoin remains firm in a key branch area of around $103,600, even after recent all-time sales pressure of $112,000. On the daily chart, BTC is still in a bullish structure and is supported by a steep slope in the 34-day EMA (green), which continues to track prices below the price. Despite a brief review, this shows a strong trend continuation.
After standing out from long-standing horizontal resistance, BTC soared violently towards 112K before re-studying the upper range of previous consolidation tests. So far, the callback looks healthy, without major crashes and gradual reduction in volume, which is a typical sign of cooling rather than panic sales.
If the Bulls defend $103,600 support, this is also in line with the EMA cluster and momentum can recover. A closing price above $110,000 will be a strong signal of resuming purchase interest. Instead, closing the closing price of $103,600 per day may suggest further disadvantages, namely the $100,000 psychological level and the 50-day moving average (currently close to $94,455).
Featured images from DALL-E, charts from TradingView
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