Second-Largest Whale Accumulation Fails to Push Bitcoin Past $106K
On-chain data shows the market's second-largest whale significantly increased BTC holdings in recent sessions, but that accumulation was insufficient to break key resistance above $106,000. Price action cooled before reaching the $110,000 level as selling from long-term holders absorbed a large portion of incoming demand. The mismatch between concentrated whale buys and broader holder distribution capped upside momentum and left the market range-bound.
The episode matters because whale accumulation alone has not been able to force a sustained breakout; persistent overhead supply from long-term holders keeps a ceiling on rallies. Traders should watch changes in long-term holder balances and whale flow intensity for signs of durable demand, while a failure to clear $106K may extend consolidation or invite downside pressure until buyers across cohorts reassert strength.