Bitcoin Whales Absorb Record Supply; $100K Potential as Positive Trends Emerge

Bitcoin whales are absorbing 300% of the newly mined supply, indicating bullish market sentiment. Their accumulation patterns, alongside falling exchanges’ BTC reserves, suggest a structural shift towards long-term holding. A recent breakout in price patterns hints at a potential rise to $100,000, however, key resistance levels remain in play.

Recent on-chain data indicates that Bitcoin’s (BTC) wealthiest traders are showing increased optimism despite challenging macroeconomic conditions. Bitcoin whales and sharks are now absorbing over 300% of the annual BTC supply, while exchanges are experiencing unprecedented coin losses. This trend signals a growing inclination towards self-custody and long-term investment strategies.