Bitcoin whales absorb 300% of newly mined BTC supply — Is $100K next?
Bitcoin whales and sharks are accumulating BTC at record rates, absorbing over 300% of the yearly issuance, while exchanges are experiencing historic outflows. The yearly absorption rate by exchanges has dropped below -200%, indicating a shift towards self-custody and long-term investment. Larger holders (100–1,000+ BTC) are leading this accumulation trend, reflecting a structural change as traditional finance adopts BTC, particularly following the approval of spot Bitcoin ETFs. Whales holding over 10,000 BTC show strong accumulation with a Trend Accumulation Score of around 0.7, while smaller cohorts are stabilizing, moving towards neutral accumulation. A breakout from a falling wedge pattern suggests a potential price target of $100,000 by May, although BTC faces resistance at its 50-day and 200-day EMAs around $85,300. A bearish rejection could push the price towards $80,000.
