Whales Accumulate $1.5 Billion in Just One Day, Bitcoin Ready to Hit $100k?
16,000 BTC added to whale reserves, worth $1.5 billion.
The cryptocurrency market is heating up as Bitcoin whales accelerate their purchases, with reserves surpassing 3.875 million BTC .
At the same time, Bitcoin flows from exchanges to Binance dropped to a decade low, suggesting the market is more stable than ever.
Bitcoin is currently trading around $96,394 , up 1.1% over the past 24 hours . Analysts point to key support at $92,000 , while strong resistance lies at $100,000 – a psychological milestone that the entire market is watching.
Whales Lead Bitcoin Bullish Trend
Data from CryptoQuant reveals that in just one day, whales accumulated nearly 16,000 more BTC , equivalent to about $1.5 billion .
This activity pushed the group's BTC holdings to a new high in November.
Notably, each whale purchase usually leads to an increase in BTC price. Currently, Bitcoin price is approaching the $97,000 threshold , signaling strong confidence of large investors in the long-term potential of this asset.
Trend change signals from altcoins
Analysis from Alphractal shows that the correlation between Bitcoin and altcoins has dropped to its lowest level since early 2024.
The heatmap shows that as Bitcoin approaches the $100k mark , altcoins are starting to decouple from the trend of the “king” of cryptocurrencies.
Traders can take advantage of this signal to guide their strategies, especially as major altcoins are gradually showing their independence in the market.
Stable market, expected sustainable growth
Another notable factor is that the flow of BTC from exchanges to Binance has dropped to a record low.
This shows that investors have more confidence in Binance's stability and are less likely to sell off than before.
According to experts, this stability helps reduce market volatility and facilitates Bitcoin's long-term growth.
Will Bitcoin or Altcoin “take the throne”?
Positive data from both Bitcoin and altcoins is ushering in a promising period for the cryptocurrency market.
The big question now is: Will Bitcoin reach the historic $100k mark, or will the attention shift to altcoins?