Whales Sell 100K BTC, Institutions Accumulate, $104K–$116K Range
Bitcoin whales sold over 100,000 BTC in recent months, driving whale-held reserves down to 3.15 million BTC—a seven-year low. Despite this liquidation, institutions and several national treasuries continued to accumulate Bitcoin through OTC desks and available ETFs, offsetting selling pressure. As a result, Bitcoin trades within a $104,000–$116,000 range, with a market cap of approximately $3.81 trillion and 24-hour trading volume near $137 billion. On-chain data show robust liquidity, as CoinMarketCap reports BTC’s 24-hour volume at $48.4 billion. Analysts warn that a break below $104,000 could test support around $93,000, while a breakout above $116,000 may fuel further upside. Traders should monitor whale reserve trends, institutional flow reports, futures funding rates, and on-chain liquidity metrics to gauge market direction.
Neutral
Bitcoin whale selling of over 100,000 BTC has introduced short-term selling pressure, which could weigh on price momentum. However, ongoing institutional and government accumulation has provided a structural demand floor. The clash between large-holder distribution and steady institutional buying has resulted in consolidation within the $104,000–$116,000 range. Historically, similar events—such as whale profit-taking near cycle highs in 2017 and 2021—led to multi-week consolidation rather than a full trend reversal when institutional demand remained robust. In the short term, traders may face choppy price action as whales continue to offload. In the longer term, sustained accumulation by institutions could underpin a bullish trajectory once the price breaks above the current range. Key indicators to watch include on-chain whale reserve trends, funding rates in futures markets, and ETF flow data. A decisive breakout in either direction will signal the next major move.