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Assessing if 2.24 billion USD whale action can help Bitcoin reach 110,000 USD

Whales have accumulated 22,000 BTC valued at 2.24 billion USD over 72 hours, potentially boosting Bitcoin’s price action towards 110,000 USD. With BTC currently at 105,275.37 USD, this uptick reflects increased confidence among large investors.

Recent technical patterns show a bullish cup and handle formation in Bitcoin’s price chart, alongside a 9.93% rise in active addresses and a 1.76% growth in new addresses, supporting the narrative of heightened interest.

The whale ratio stands at 0.96, indicating cautious optimism, while liquidation data reflects market indecision. A balance between long and short positions suggests traders are awaiting further confirmation of BTC’s trajectory.

This is community-generated content, not advice from ONUS.
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