Is Bitcoin (BTC) Poised for a Major Bullish Breakout?
- Bitcoin trades at $99,646 with a $1.97 trillion market cap and $83B in 24-hour trading volume.
- Whale accumulation hits $2 billion, signaling strong institutional interest.
Bitcoin (BTC) currently trades at $99,646.29, marking a 1.38% increase in the past 24 hours. Its market cap stands at $1.97 trillion, with a 4.23% volume-to-market cap ratio. Trading volume surged by 32.01% over 24 hours, reaching $83.23 billion.
Whale accumulation remains strong as 20,000 BTC, valued at $2 billion, were purchased within the same period. Bitcoin’s market cap soars to $2 trillion, making it the 7th largest asset globally. Bitcoin spot ETFs reported significant inflows of $377 million on December 6.
BlackRock’s ETF IBIT led with $257 million per day, followed by Fidelity’s FBTC at $120 million daily. The total net inflow for spot ETFs continued for seven consecutive days. Short-term holders highlight the critical level of $112,926 as the next potential local top, calculated as one standard deviation above their cost basis.
On-chain metrics revealed notable whale transactions. Over 1,012 BTC worth $101.7 million moved between unknown wallets. Another 2,024 BTC, valued at $205.6 million, followed. Transfers included 553 BTC ($56.1 million) from PayPal wallets and 771 BTC ($76.6 million) from Gemini to Coinbase. These activities suggest increased liquidity and strategic positioning.
Will BTC Sustain It’s Bullish Momentum?
The chart indicates Bitcoin faces resistance near $105,000 and support around $95,000. If the price breaks above $105,000, it could target $112,000. A fall below $95,000 might test $90,000 as the next support.

The Relative Strength Index (RSI) reads 66.4, signaling strong momentum but approaching overbought levels. The RSI average hovers near 63, suggesting a slightly bullish market sentiment.
The 9-day moving average (MA) stands at $97,559, while the 21-day MA is $95,946. A bullish crossover occurred earlier, where the shorter-term MA moved above the longer-term MA, pointing to a potential upward trend. However, the price consolidates near its peak, indicating caution for traders.
Bitcoin’s bullish momentum aligns with rising ETF inflows and whale activity. While resistance at $105,000 could limit gains, breaking above this level may open a path to $112,000. If current support levels fail, prices could retreat toward $90,000. With sustained demand from institutions and retail traders, Bitcoin’s outlook remains positive.
Highlighted Crypto News Today
XDC and ArchaX Partnership Lead to 30% XDC Price Surge
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Shiba Inu Reserve Coming to UAE? Expert Foresees Big SHIB Adoption

Solana Drops 8% Below Realized Price for First Time Since 2022
Solana's SOL price drops 8% to $124, slipping below its realized price of $134 for the first time since May 2022.What Is Realized Price and Why Does It Matter?Reasons Behind SOL’s DeclineWill SOL Rebound?

Final Call Before Arctic Pablo Coin’s Price Jumps! Best Crypto to Invest Now as Book of Meme & Cheems Ride the Hype
Discover the best crypto to invest in, including Arctic Pablo Coin's thrilling meme coin presale, Book of Meme's latest surge, and Cheems' growing momentum.Arctic Pablo Coin: The Meme Coin That Unveils Hidden MysteriesBook of Meme (BOME): The Return of Meme Culture in CryptoCheems: The Meme Icon Continues to ShineConclusion: A Golden Opportunity in the Meme Coin Market

CBOE Seeks Approval for Staking in Fidelity’s ETH ETF
CBOE proposes allowing staking in Fidelity's Ethereum ETF, aiming to boost investor returns through staking rewards.How Staking Could Benefit ETF InvestorsSEC Approval is Key

Trending news
MoreCrypto prices
More








