Accumulate

bullish

Bitcoin

Resistance

Shiba Inu

<p><a href="https://captainaltcoin.com/expert-warns-of-a-bitcoin-btc-price-correction-heres-the-outlook/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s surge lately</a> has brought its price to a new high of $97,584, according to an analysis of price chart shared by Patric H. (@CryptelligenceX) and data from Santiment.&nbsp;</p>
<p>Besides, this breakout marks a continuation of bullish momentum, aligning with a fractal pattern observed in Q1 2024. Whale and shark wallet activity further reinforces the bullish narrative, with a significant accumulation of Bitcoin over the past month.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-breaks-out-of-consolidation-zone-strong"><strong>Bitcoin Breaks Out of Consolidation Zone</strong></h2>
<p>Bitcoin’s price action has been characterized by a clear breakout from a protracted consolidation zone. Between $43,810 and $73,835, the consolidation range stretched, with the latter acting as the breakthrough level.&nbsp;</p>
<figure class="wp-block-image size-large"><a href="https://x.com/CryptelligenceX/status/1859464113878929840" target="_blank" rel="noopener noreferrer nofollow"><img loading="lazy" decoding="async" width="1024" height="565" src="https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-1024x565.png" alt="" class="wp-image-585707" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-1024x565.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-300x165.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-767x423.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-1536x847.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-2048x1129.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-272x150.png 272w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-635x350.png 635w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t-788x434.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/b5t.png 680w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
 <figcaption class="wp-element-caption">
  Source: Patric H. | CryptelligenceX
 </figcaption>
</figure>
<p>Moreover, this move has pushed Bitcoin past the 1.618 Fibonacci extension at $89,000, a critical milestone in the current rally. The Fibonacci retracement and extension levels further outline key support and resistance zones:</p>
<ul class="wp-block-list">
 <li>Support Levels: $73,835 (breakout level) and $51,402 (0.786 Fibonacci retracement).</li>
 <li>Resistance Levels: $100,000 (psychological barrier) and $134,189 (2.618 Fibonacci extension target).</li>
</ul>
<p>The alignment with Q1 2024 fractal patterns underscores the predictability of Bitcoin’s trajectory, as noted in the shared tweet by Patric H.</p>
<h2 class="wp-block-heading" id="strong-whale-and-shark-wallet-accumulation-grows-strong"><strong>Whale and Shark Wallet Accumulation Grows</strong></h2>
<p>Santiment’s <a href="https://x.com/santimentfeed/status/1859524090513547577" target="_blank" rel="noopener noreferrer nofollow">data reveals an accumulation</a> of 56,397 BTC by wallets holding at least 10 Bitcoin over the past month. These wallets now control approximately $5.428 billion in Bitcoin, indicating growing confidence among major holders.&nbsp;</p>
<p>Despite a slight decline in the number of such wallets (-0.82%), their collective holdings have increased, reflecting <a href="https://news.bitcoin.com/bitcoin-breaks-all-time-price-highs-long-term-holders-stir-as-institutional-demand-surges/" target="_blank" rel="noopener noreferrer nofollow">concentrated buying power</a>.</p>
<p>This behavior among large holders is a key metric to monitor, as it often signals sustained momentum in bullish markets. The concentration of Bitcoin in fewer wallets highlights the strategic actions of these stakeholders during the rally.</p>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/this-meme-coin-trader-updates-his-shiba-inu-shib-price-prediction/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>This Meme Coin Trader Updates His Shiba Inu (SHIB) Price Prediction</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-bitcoin-s-bullish-momentum-the-outlook-strong"><strong>Bitcoin’s Bullish Momentum: The Outlook</strong></h2>
<p>The price of Bitcoin is currently approaching the psychological $100,000 mark, and its direction is still rising. The correlation with whale activity and Fibonacci levels is cited by analysts as evidence for further expansion.&nbsp;</p>
<p>A sustained breakout above $89,000 reinforces the possibility of reaching $134,189, as projected by technical analysis.</p>
<p>While a pullback to $73,835 could occur if $89,000 fails to hold, the overall sentiment remains positive, driven by strong fundamentals and historical fractal alignment. <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s performance</a> will remain a focal point for the crypto market as it approaches new horizons.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-price-hits-97-5k-heres-why-100k-could-be-next-as-whales-and-sharks-accumulate/" rel="noopener noreferrer nofollow">Bitcoin Price Hits $97.5k: Here’s Why $100K Could Be Next as Whales and Sharks Accumulate</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin Price Hits $97.5k: Here’s Why $100K Could Be Next as Whales and Sharks Accumulate

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