Bitcoin Whales Wake Up After 13 Years with 479x Returns

Bitcoin (BTC) is currently trading above the $85,000 mark as the crypto market heads into what could be a bullish fourth quarter. Historically, Q4 has been favorable for cryptocurrencies, and this trend might continue. However, the uptrend faces resistance from dormant whales and perpetual traders, raising questions about whether bulls can push BTC toward the $100,000 mark.

Two significant Bitcoin whales, who have held 1,346 BTC since 13 years ago, have recently become active. Their holdings, initially worth $240,000, are now valued at $115 million, marking a 479x return. The wallets moved a small amount of BTC, valued at $43, which could signal preparation for a sale or simply position management.

Adding to the pressure, large sell orders are forming in the $87,000 to $91,000 range, creating barriers to the uptrend. Despite this, spot whale demand could still push BTC past $91,000. Traders on Kalshi are betting on BTC crossing the $100,000 mark before the end of the year, with odds at 39% and rising. Technically, the weekly charts reinforce this outlook, with $100,000 and $127,000 as the next resistance levels.

On lower timeframes, spot bulls are buying dips, with over 2,000 BTC bought on Coinalyze. However, liquidity is stacked on both sides, suggesting BTC could drop if bulls do not clear the $91,000 resistance.