Bitcoin is showing signs of renewed momentum as on-chain data confirms aggressive accumulation by large investors.
In the past 48 hours alone, over 30,000 BTC have been purchased by whales, signaling growing confidence despite short-term volatility.
At the time of writing, Bitcoin trades near $118,400, showing slight daily gains. With a market cap above $2.35 trillion and daily trading volume exceeding $70 billion, BTC remains the dominant force in the digital asset market.
Key Support Holding, Models Predict Further Upside
According to data shared by crypto analyst Ali Martinez, Bitcoin’s short-term outlook remains bullish as long as it holds the $105,450 support level. Using the Short-Term Holder Cost Basis model, analysts are watching for potential upside targets at $125,230 and even $141,770 if momentum continues.
The model highlights that BTC remains in the “heated” zone but not yet in overbought territory, suggesting more room for upward movement.
Whale Activity Reinforces Bullish Sentiment
The surge in buying from whale addresses—those holding between 100 and 1,000 BTC—coincided with a stabilization in Bitcoin’s price action over the past few days. This behavior typically indicates institutional or high-net-worth investor interest returning to the market.
As the broader crypto landscape watches Bitcoin’s next move, these accumulation patterns could act as a launchpad for BTC’s next leg higher in Q3 2025.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.