 
 
Bitcoin whales have snapped up over 218,000 BTC in just 18 weeks, signaling aggressive accumulation and renewed long-term confidence.
Calling out this development, market analyst Aria Nakamoto stated that whales holding 10–10K BTC have added 218,570 BTC in 18 weeks, now controlling 68.44% of the supply.
Despite prices hovering near $115K, Nakamoto noted that their continued accumulation signals unwavering long-term conviction.
Notably, whale accumulation is a classic bullish signal, indicating confidence in long-term gains and often sparking positive market sentiment and broader investor interest.
Meanwhile, Japanese Bitcoin treasury firm Metaplanet recently added 463 BTC to its holdings, reinforcing its long-term accumulation strategy ahead of a major target milestone next year.
 
Bitcoin Eyes the $124,000 Zone
According to renowned market analyst Lingrid, Bitcoin is breaking down from a repeated triangle pattern after a failed breakout, testing the lower imbalance zone in what may be a fakeout yet it remains within the broader ascending channel.
She added, “As long as BTC holds above the 112,000–113,000 support, continuation toward 124,000 remains likely. A recovery from this dip may reignite bullish momentum.”
A surge to $124,000 would mark a new all-time high for Bitcoin, surpassing the current $122,838 peak set last month.
At the time of this writing, Bitcoin was trading at $114,822, representing a 0.4% increase in the past 24 hours.
Therefore, only time will tell if BTC can gather enough momentum to break past $124K, as intensified whale accumulation fuels anticipation of a breakout.
Source: https://zycrypto.com/bitcoin-whales-scoop-up-218k-btc-in-18-weeks-124k-breakout-looms-if-113k-holds/