Bitcoin Whales Load Up 83K BTC as Retail Sells Off: $110K Price Target in Sight?

Bitcoin’s largest holders are accumulating aggressively while retail investors cash out, fueling speculation of a potential major price jump to a new all-time high (ATH) ahead.According to blockchain analytics firm Santiment, over the last 30 days, wallets holding between 10 and 10,000 BTC have scooped up an additional 83,105 BTC, while smaller retail wallets, with less than 0.1 BTC, have collectively shed 387 BTC in the same period.Whales Buy the Dip, Retail Sells the RallySantiment analysts noted clear signs that smaller wallets were taking profits, likely out of fear of a market top, while whales and sharks were doubling down. This stark divergence, especially the large-scale accumulation, led the analysts to suggest that Bitcoin’s next push up may only be “a matter of time” and could see the asset breach the $110,000 level to usher in a new ATH.The prediction is based on growing macroeconomic optimism, after the flagship cryptocurrency soared to $105,800 on May 12 following news of de-escalating trade tensions between the United States and China.The two squabbling nations have agreed to cease tariff hostilities for 90 days, with the U.S. slashing taxes on Chinese imports from 145% to 30% and Beijing bringing down its levies on American-made goods from 125% to 10%.However, while the agreement spurred rallies in global equities and crypto, Santiment urged caution at the time, noting in an earlier post on X that the announcement may only outline a framework deal, not an executed agreement.The experts advised, “Avoid overextending until confirmations are made,” warning of a potential “buy the rumor, sell the news” pullback.Still, institutional confidence remains unshaken. Yesterday, Michael Saylor’s Strategy added 13,390 BTC to its books for $1.34 billion, averaging $99,856 for each. The purchase brings its total holding to 568,840 BTC, worth over $59 billion, translating to about $20 billion in unrealized profit.Not to be left behind, Metaplanet also announced a more modest $126.7 million acquisition of 1,271 BTC, at $102,119 each. The buy took the Tokyo-based company’s BTC reserves to 6,796, eclipsing El Salvador’s and pushing its BTC Yield for the year to 170%.Price ActionLooking at the market, the world’s largest cryptocurrency by market cap is showing signs of consolidation after its recent spike. At the time of going to press, it was trading at $102,427, down about 1.8% in the last 24 hours.Additionally, although it’s up 8.5% on the week, it slightly underperformed compared to the broader crypto market, which gained 10.5% in that time. However, BTC has continued to shine across longer periods, up 21.2% for the month and 68.1% year-on-year, even though it remains 5.7% shy of its $108,786 ATH set earlier in the year.The post Bitcoin Whales Load Up 83K BTC as Retail Sells Off: $110K Price Target in Sight? appeared first on CryptoPotato.