Bitcoin Surges Toward $135K as New Whale Accumulation Sparks Hope

Bitcoin has experienced a significant decrease from its recent all-time high, currently trading around $105,062 after a 1.1% decline in a day. Despite this dip, new on-chain data highlights the rapid accumulation of Bitcoin by fresh whale investors—wallets with over 1,000 BTC and coins less than six months old. Between March and June 2025, these whales doubled their holdings from approximately 500,000 BTC to over 1.1 million BTC, adding about $63 billion worth of Bitcoin and increasing their share of circulating supply from 2.5% to 5.6%. This suggests a strategic move by major investors, potentially signaling upcoming market volatility or an optimistic price move, especially if the supply remains restricted. Technical analysis indicates that Bitcoin might be forming a bullish pattern by breaking out of a descending broadening wedge. If this breakout holds above the breakout zone, there is a possibility for Bitcoin to reach as high as $135,000 in 2025, contingent upon macroeconomic catalysts and sustained technical strength. The pattern and accumulation activity imply a market sentiment that is preparing for a major move, potentially upward. Given the current accumulation trend by new whales and the technical breakout signals, there is a plausible case for a bullish outlook on Bitcoin in the medium term. It is advisable for investors to monitor whether the breakout is confirmed and to consider the broader macroeconomic environment, as these factors will heavily influence the next price trajectory.