Despite ATH: Whales add 78K BTC in 30 days, Bitcoin accumulation continues

Bitcoin is currently trading above $105,000 after a wealthy backtrack of $112,000. Despite recent price volatility, BTC appears to be entering the merger phase, but as global markets remain tense, support has been found in key demand areas. The U.S. Treasury yields have risen and macroeconomic uncertainty escalates, especially those related to trade tensions and inflation risks, which are very sentiment for investors in asset classes, including cryptocurrencies.

However, in the face of systemic pressure, Bitcoin continues to show resilience. Large holders (1,000 to 10,000 BTC of them) have been steadily improving their position, according to new data on encrypted volumes. Since March 11, when BTC briefly dropped below $78,000, the queue has accumulated another 200,000 BTC, bringing its total holdings from 3.3 million to 3.5 million coins. This continued accumulation of whales shows that long-term confidence in Bitcoin remains intact even as the broader market navigates through uncertainty.

As the merger progresses, demand for key players increases, analysts are paying close attention to the next major action. Whether BTC burst or further retreat, the basic accumulation trend signal behind the scenes continues to be strong.

Bitcoin faces market tests, as whales remain strong

Bitcoin is currently browsing the key stage, with its all-time high of $112,000 down 7%. As assets consolidate the $105,000 level, investors are closely watching its response to growing macroeconomic uncertainty. Global tensions between the United States and China, especially around trade tariffs, are reshaping market dynamics and injecting volatility between risky assets. Despite this turmoil, Bitcoin remains a great performer since 2021, outperforming most altcoins, which continue to lag behind previous cycle highs.

During this callback, it is worth noting that the continued confidence shown by the big bitcoin holders. According to analysis by top analyst DarkFost, supply with BTC holdings at addresses between 1,000 and 10,000 has increased significantly since BTC briefly fell below $78,000 since March 11. The whales added 200,000 BTC to their stake, from 3.3 million to 3.5 million BTC in three months.

In a shorter time frame, 78,000 BTC has been accumulated over the past 30 days, while only 6,000 BTC has been added last week. Although this rate slowed down compared to the early stages, the trend was still decisive. Even after the ATH on May 23, the accumulation continues, which suggests that the big players are positioning for further ups.

BTC price analysis: Test support in ongoing mergers

Bitcoin is currently trading at $104,430, which happens to be $103,600 on signs of critical support, and has since withdrawn $112,000 from its recent historical heights. The chart shows a clear rejection near the $109,300 resistance zone, which has now been tested multiple times without a successful breakthrough. Despite the rejection, the price remains structurally bullish as long as BTC holds the $103,600 level, which also coincides with the current 34-day EMA of about $102,893.

The volume drops slightly during the answer, indicating that the callback may be more corrected than the impulse. Meanwhile, the 50-day and 100-day SMA continues to tilt upward, strengthening the medium-term bullish bias. If the Bulls can maintain price action above $103,600 support, it could push back to $109,300.

However, failures below $103,600 will open the door for deeper downside risks, with potential targets approaching the $99,000-100,000 range, while the 50-day SMA can provide additional support. Market participants should monitor whether BTC can keep this merger zone under macro uncertainty, including rising U.S. Treasury yields and geopolitical tensions, and continue to put pressure on broader sentiment. Holding current support will indicate resilience and lay the foundation for a breakthrough attempt in the coming days.

Featured images from DALL-E, charts from TradingView

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