The post Bitcoin Mega Whales Are Buying Again, BTC Price Eyeing $120k? appeared first on Coinpedia Fintech News
Something big is happening behind the scenes in the Bitcoin market. While most retail investors remain cautious as the bitcoin price continues to consolidate around $108k. In the meantime, Bitcoin’s “mega whales” are quietly adding to their stacks. This quiet accumulation might be a strong signal of what’s coming next for Bitcoin’s price.
Mega Whales Keep Accumulating
Recent data shows more Bitcoin wallets now hold over $10 million worth of Bitcoin. This number has grown by 4.23%, which means big investors and rich companies still trust Bitcoin.
These big players are not buying because of hype, they are buying quietly now, hoping for a bigger price jump later.
Smaller wallets are doing the same. Wallets with $100,000 to $1 million in Bitcoin have gone up by 2.71%, and wallets with $1 million to $10 million have increased by 2.34%.
This steady buying shows that many people still believe Bitcoin will grow more in the future, especially if new ETFs bring in more money and governments stay supportive.
Price Still Range-Bound, But Whales Stay Calm
Right now, Bitcoin has been stuck trying to break above the key resistance between $107,000 and $110,000. So far, it’s mostly been bouncing around this area without a strong breakout.
Even though excitement among smaller traders hasn’t fully returned, the Relative Strength Index (RSI) sits at a healthy 55, showing there’s still room for upward momentum without the market being overbought.
What’s different this time is the patience. These big players aren’t chasing short-term gains. Their buying looks slow and deliberate, suggesting they expect something bigger in the long run.
Bitcoin Eyeing New ATH: $120k
History shows that whale accumulation often happens before major rallies. If Bitcoin can break above the $110,000 resistance with strong volume and hold its ground, the next target could be the psychological $120,000 mark.
For now, this quiet accumulation wave might just be the calm before the next Bitcoin breakout.