Whale accumulation intensifies as over 17,000 BTC exit exchanges in one week, signaling strong conviction among institutional players. The surge in large-holder activity coincided with a sharp rebound in price, with Bitcoin now trading at $93,728.35, up 6.26% in the last 24 hours. This rally is not retail-led but instead fueled by deep-pocketed investors tightening supply, as exchange reserves sit at 2.549 million BTC. The Exchange Stablecoin Ratio has also risen by 4.97%, indicating potential buying pressure.
Profitability is growing, with 86.22% of Bitcoin holders in profit, but the Net Unrealized Profit/Loss (NUPL) ratio at 0.516 suggests investors are not rushing to exit. The MVRV ratio, which compares market value to realized value, rose by 5.59% to 2.12, indicating room for Bitcoin’s valuation to grow further. The cryptocurrency recently broke out of a descending wedge pattern, confirming support at $83,462 and setting the stage for a potential move toward $98,211 and beyond.
All key indicators are aligning for a strong upward continuation, with Bitcoin’s momentum backed by institutional conviction and diminishing sell pressure. If the current rally is sustained, the cryptocurrency may have a realistic chance of breaching the $100K mark in the near future. The market is experiencing rising demand pressure, with on-chain supply and profit metrics, valuation models, and technical structure all pointing towards a potential move towards six figures in the coming weeks.
