Bitcoin (BTC) Price Holds Above $110k, Whale Accumulation Stalls

Bitcoin (BTC) is back trading near the $110,000 mark, up nearly 4.5% over the last seven days. The price has held above $105,000

Bitcoin (BTC) has returned to trading near the $110,000 mark on Monday, rising nearly 4.5% over the past seven days. The price has managed to stay above $105,000 for the past four days, further reinforcing bullish sentiment in the market.

This performance comes amid a pause in whale accumulation and strong technical indicators such as bullish EMA alignment and Ichimoku Cloud support. As BTC tests key resistance levels, traders will be watching closely to see whether momentum will carry or a pullback is on the horizon.

BTC Whales Halt Accumulation

Between May 28 and June 4, the number of Bitcoin whale wallets, typically defined as those holding between 1,000 and 10,000 BTC, increased from 2,002 to 2,017.

This minimal uptick, seen over a two-week period, suggested renewed interest from large holders, often viewed as "smart money." However, since then, the number of whale wallets has remained largely stable, fluctuating between 2,013 and 2,016 over the past week, with the current count standing at 2,013.

This lack of continued growth may indicate a pause in aggressive accumulation at least for now.

Tracking Bitcoin whales is crucial as their movements often foreshadow major price shifts. These large holders can influence market sentiment, create liquidity waves, and signal institutional confidence or caution.

The current plateau in whale activity could be linked to a wait-and-see approach amid uncertain macroeconomic or technical conditions.

While the recent rise hinted at continued accumulation, the stagnation that followed may suggest that whales are currently hesitant to deploy further capital at these price levels, which could limit near-term upside unless a new catalyst emerges.

Bitcoin Stays Above Cloud As Momentum Stalls

Bitcoin’s Ichimoku Cloud chart is showing price action above the green cloud, which reflects a bullish market structure.

The Leading Span A (upper edge of the cloud) is trending upward, and the green color of the cloud ahead indicates continued bullish momentum. The cloud itself acts as a potential support zone.

The recent breakout from the red cloud confirms that buyers took control after the consolidation.

The blue line (Tenkan-sen) remains above the red line (Kijun-sen), another bullish signal indicating that short-term momentum is still stronger than the mid-term trend.

However, both lines have flattened slightly, which could suggest a potential pause or minor consolidation.

The green lagging span (Chikou Span) is positioned above the price and the cloud, which is reinforcing the bullish bias. However, its convergence with current price action suggests that any drop below the Tenkan-sen could warrant some caution.

BTC Key Support Levels To Keep An Eye On

Bitcoin’s EMA structure remains firmly bullish, with shorter-term EMAs consistently above the longer-term ones and a healthy gap between them.

This alignment confirms strong upward momentum and suggests that trend continuation is still intact unless disrupted.

As BTC price approaches its next resistance level, a breakout above this level could open the way for further gains and potentially establish new short-term highs.

However, on the downside, if support near the $108,000 zone fails, BTC could enter a correction phase, targeting progressively lower support levels.

A break below the $106,700 region would open the door to a deeper retracement, with the $103,000 and $100,400 zones becoming potential targets in a stronger downtrend.