Bitcoin (BTC) Price Tests $110k Resistance as Whales Pause Accumulation

Bitcoin (BTC) is again trading near the $110,000 mark, up nearly 4.5% in the last seven days. The price has held above $105,000 for the past four days

Jakarta, Pintu News – Bitcoin (BTC) is once again trading close to the $110,000 mark, showing a recovery of almost 4.5% in the last seven days. The price has remained above $105,000 for the past four days, continuing to support a positive sentiment in the market.

This performance comes amid a pause in accumulation by the “whales” and support from strong technical indicators, such as bullish EMA alignment and support from the Ichimoku Cloud.

As BTC tests an important resistance level, traders are keenly observing whether this momentum will continue or if it will experience a correction.

Bitcoin Price Drops 0.87% in 24 Hours

On June 12, 2025, Bitcoin’s price was recorded at $108,616 (approximately IDR 1.76 billion), showing a slip of 0.87% in the past 24 hours. During the same period, BTC experienced a dramatic swing—rising as high as IDR 1.79 billion before dipping to a low of IDR 1.75 billion—suggesting increasing uncertainty as the market loses some steam.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at approximately $2.15 trillion, with trading volume in the last 24 hours decreasing by 8% to $49.99 billion.

Read also: 6 Cryptos Ready to Explode in the Next 90 Days!

BTC Accumulation by Whale Experiences a Pause

According to BeInCrypto, between May 28 and June 4, the number of whale-owned Bitcoin wallets—those holding between 1,000 and 10,000 BTC—increased from 2,002 to 2,017.

This brief uptick indicated renewed interest from large holders, often deemed “smart money.” However, since then, whale counts have tended to stabilize, remaining in the range of 2,013 to 2,016 over the past week, with the latest count recorded at 2,013.

The lack of continued growth indicates that aggressive accumulation has paused, at least for the time being.

Tracking whale activity is crucial because their movements often serve as an early signal of major price changes. These large holders can influence market sentiment, generate waves of liquidity, and signal institutional confidence or caution.

The current stagnation in whale activity likely reflects a “wait-and-see” approach amid uncertain macroeconomic or technical conditions.

While the previous uptick suggests accumulation, the subsequent stagnation suggests that whales may still be reluctant to allocate more capital at current price levels—which could limit near-term price gains unless a new catalyst emerges.

Bitcoin Remains Above Ichimoku Cloud, but Momentum Begins to Weaken

The Ichimoku Cloud chart for Bitcoin shows that the price movement is still above the green cloud, reflecting a bullish market structure.

Leading Span A (upper limit of the cloud) indicates an uptrend, and the green color of the cloud ahead indicates continued bullish momentum. This cloud also serves as a potential support zone.

The latest breakout of the red cloud confirms that buyers have taken control after the consolidation phase.

The blue line (Tenkan-sen) is still above the red line (Kijun-sen), which is another bullish signal and shows that the short-term momentum is stronger than the medium-term trend.

Read also: Whale Pi Network on the Move Ahead of June 28 Update: Can Pi Coin Surge to $1.2?

However, both lines are starting to flatten out, which could be a sign of a potential pause or mild consolidation.

Meanwhile, the lagging green line (Chikou Span) is above the price and above the clouds, which reinforces the bullish bias. However, its position starting to approach the current price suggests that a drop below the Tenkan-sen could be a warning signal.

BTC Faces Key Support Test

Bitcoin’s EMA structure still shows a strong bullish signal, with the short-term EMA consistently above the long-term EMA and a healthy inter-line spacing.

This pattern confirms the existence of solid upside momentum and suggests that the uptrend is still holding, barring a significant disruption.

As the price of BTC approaches the next resistance level, a breakout above this level could open up further upside opportunities and potentially print new highs in the short term.

However, downside risks remain. If support around $108,000 fails to hold, BTC could enter a correction phase, targeting a gradual decline to lower support levels.

A drop below the $106,700 region will open up the potential for a deeper retracement, with the $103,000 and $100,400 zones being the next targets if the downtrend strengthens.

That