Bitcoin has regained the $108,000 price level, with key investor wallets identified significantly increasing their holdings. These wallets, defined as holding between 100 and 1,000 BTC, are exhibiting a pattern of accumulation reminiscent of behavior observed prior to previous major price breakouts.
Crucially, the cryptocurrency is currently testing a persistent resistance trendline established earlier this year. This technical barrier has historically limited Bitcoin’s upward price momentum.
Market observers note that trading volume remains stable despite price fluctuations. This stability, aligning with patterns seen during significant past market events, indicates ongoing accumulation without signs of widespread panic selling.
Concurrently, consistent capital inflows from strategic buyers are evident. The price action, compressing below the $113,000 level, suggests underlying pressure potentially culminating in a significant upward movement if current resistance is overcome.
The accumulation extends beyond smaller holder ranges. Large wallets holding between 100 and 100,000 BTC are also actively re-accumulating Bitcoin, pointing to a concerted effort by major market participants to position for potential future gains.