Bitcoin Whale Balances Stabilize As Price Hits $125K ATH: Signs of Re-Accumulation?

Bitcoin is now trading just below its $125,000 all-time high, following a powerful 15% rally from the $109,000 level that reignited bullish momentum across the ￰0￱ weeks of sideways movement, bulls have reclaimed control, pushing BTC into a critical zone where a clean breakout above $125K could mark the start of a new price discovery phase. However, not all signals are equally bullish. A recent report from CryptoQuant sheds light on growing caution among large ￰1￱ firm’s Total Whale Holdings metric tracks the 30-day percentage change in Bitcoin held by whales, offering a direct view into their accumulation or distribution activity. Currently, the indicator is showing negative values, signaling that whales have been actively reducing their positions throughout September ￰2￱ decline in whale balances suggests that while retail and institutional inflows have driven price gains, smart money is locking in profits after months of upward ￰3￱ combination of strong technical structure and shifting onchain data presents a pivotal moment for ￰4￱ must sustain pressure above key resistance levels to invalidate the risk of a deeper correction — and confirm that this rally is more than just a temporary spike in ￰5￱ Show Signs of Exhaustion Top analyst Burak Kesmeci shared new insights on Bitcoin’s current onchain dynamics, pointing to a potential shift in whale behavior that could shape the market’s next major ￰6￱ to Kesmeci, the red zone on the chart clearly illustrates a 30-day downtrend in whale holdings, confirming that large investors have sold a significant amount of Bitcoin over the past ￰7￱ sustained selling pressure coincided with Bitcoin’s earlier struggles to hold above $120,000, contributing to volatility and short-term uncertainty.

However, despite this wave of distribution, one key observation stands out: as prices have stabilized near record highs, whales have noticeably slowed their selling ￰8￱ narrowing purple area in the indicator marks a gradual recovery from the negative zone, signaling that the most intense phase of selling may now be behind ￰9￱ concludes that whales have been net sellers for nearly a month, but in the first days of October, this trend has clearly ￰10￱ behavior could suggest the beginning of a re-accumulation phase, where large holders start building positions again at slightly lower ￰11￱ short, Bitcoin’s biggest investors appear to be approaching selling exhaustion, which may support a short-term uptrend as long as the data remains ￰12￱ this pattern continues, it would strengthen the bullish outlook and potentially pave the way for a clean breakout above $125,000, confirming Bitcoin’s next leg higher into uncharted ￰13￱ Faces Key Resistance: Price Tests All-Time Highs Bitcoin continues to show remarkable strength after reclaiming the $120,000 level and now trades around $124,000, just below its all-time high near $125,000.

The chart reveals a clear breakout above the $117,500 resistance, which has now flipped into strong support — a pivotal level that has capped price advances multiple times since ￰14￱ 50-day moving average (blue line) has crossed above the 200-day (red line), confirming a bullish ￰15￱ remains in favor of the bulls, supported by higher lows since late September. However, Bitcoin is currently consolidating near its previous peak, signaling a potential short-term pause before the next ￰16￱ BTC manages to close above $125,000 with strong volume, it would likely confirm a breakout into price discovery, potentially opening the door to the $130,000–$135,000 ￰17￱ the downside, failure to hold above $122,000 could trigger a pullback toward $118,000, where buyers previously stepped in ￰18￱ market structure remains healthy, and with bulls firmly in control, the next few sessions will be critical in determining whether Bitcoin can sustain its parabolic advance or faces a temporary correction before resuming its upward ￰19￱ image from ChatGPT, chart from ￰20￱