Bitcoin (BTC) Price Still Has a Long Way to Go, According to Historical Whale Activity

Key Points

1. Bitcoin's current price of around $117,000 is far below past bull cycle peaks, such as $70,000 in spring 2024 and $100,000 in December 2024.

2. Historical data shows that significant increases in active BTC supply (e.g., 18–20%) preceded major market tops, but current supply activity has only modestly increased (30-day change from -17% to +2.4%).

3. Analyst Adler predicts that if Bitcoin stabilizes above $100K and pushes beyond $120,000, active supply could first climb to 8–10%, followed by a test of the 18–20% threshold associated with market tops.

4. Some projections suggest Bitcoin could reach $250,000, $500,000, or even $1 million, with current trading at $118,535 (up 0.09% daily and 16% over four weeks).