Bitcoin Whales Accumulate $63 Billion: Will BTC Hit $135K?

Bitcoin’s price has recently experienced a pullback, currently trading around $105,062, down from its all-time high. However, a fascinating trend is emerging among large investors. Data reveals a significant surge in Bitcoin accumulation by “new whales” — entities holding 1,000 BTC or more, with coins acquired within the last six months.

According to analysis from CryptoQuant contributor “onchained,” these new whales more than doubled their holdings between March 1 and June 4, 2025, accumulating over 1.1 million BTC, a staggering $63 billion increase. Their share of Bitcoin’s circulating supply jumped from 2.5% to 5.6%, effectively removing nearly ten months of Bitcoin mining output from circulation.

This massive accumulation, excluding long-dormant coins, suggests significant long-term bullish sentiment and active supply absorption. This pattern historically precedes substantial price volatility. Analysts interpret this as a shift in market structure, particularly when combined with tightening supply.

Technical Analysis Hints at Breakout

Technical analysis provides further intriguing insights. Analyst “Titan of Crypto” notes Bitcoin’s breakout from a right-angled descending broadening wedge, a chart pattern often indicating a potential trend reversal. If the price stays above the breakout zone, a price target near $135,000 in 2025 seems plausible, aligning with expectations for upcoming macroeconomic catalysts.

Conclusion

The confluence of massive whale accumulation and positive technical indicators paints a compelling picture. While short-term price fluctuations are normal, the long-term outlook for Bitcoin remains bullish. The question now is whether this bullish momentum will propel Bitcoin towards the $135,000 target.