- Bitcoin whales accumulated over 1,700 BTC in two days, signaling growing institutional confidence and potential for upward price momentum.
- A breakout above Bitcoin’s long-standing ascending channel mirrors the 2017 setup and may trigger a powerful bullish continuation.
- Institutional wallets now dominate the Bitcoin landscape, supporting market stability and highlighting the asset’s growing financial relevance.
Bitcoin shows bullish momentum as large-scale investors ramp up their buying activity. A prominent whale just added 821 BTC worth over $85 million to their holdings as per lookonchain. In total, this address accumulated 1,721 BTC worth around $179 million over the last two days. Additionally, another whale withdrew 900 BTC, valued at $93.75 million, from Binance just six hours ago at the time lookonchain reported.
Whale activity often precedes key market shifts. These investors, typically hedge funds, miners, and institutions, operate with long-term strategies. Unlike retail traders, they rarely act based on emotion. Hence, their aggressive accumulation may signal that Bitcoin remains undervalued. Moreover, it suggests expectations of a strong upside. Bitcoin is currently trading around $104354.
Besides, Bitcoin’s technical structure remains highly bullish. Recent price movements have broken above a long-standing ascending channel. This pattern began forming in 2021 and has held firm through multiple corrections. The breakout may confirm renewed strength, especially with price action bouncing off the lower trendline consistently. Additionally, historical behavior shows that such breakouts often spark parabolic runs.
Logarithmic Chart Hints at Exponential Growth
Bitcoin’s long-term price timeframe tells a compelling story. On a logarithmic scale, price trends appear proportional over time. Consequently, this format highlights Bitcoin’s exponential nature. It reveals how past gains from $1 to $100 echo more recent moves from $10,000 to $100,000. Moreover, the data clearly marks two rising channels. Each contains multiple touchpoints, showing Bitcoin’s disciplined trend adherence.
Notably, the current trajectory mirrors the 2017 setup. That year sparked one of the most powerful bull runs in crypto history. Now, the price has pushed above $60,000, with technical indicators hinting at a potential surge toward $100,000. The market structure remains intact, with higher highs and higher lows forming consistently.
Institutional Confidence Continues to Grow
Besides price action, institutional involvement keeps rising. Wallets holding between 1,000 and 10,000 BTC now dominate the landscape. These players bring data-driven strategies, liquidity, and long-term vision. Hence, their growing footprint reflects Bitcoin’s maturing role in global finance.
