Bitcoin Mega Whales Are Buying Again, BTC Price Eyeing $120k?
Something big is happening behind the scenes in the Bitcoin market. While most retail investors remain cautious as the bitcoin price continues to consolidate around $108k. In the meantime, Bitcoin’s “mega whales" are quietly adding to their stacks. This quiet accumulation might be a strong signal of what’s coming next for Bitcoin's price.Mega Whales Keep AccumulatingRecent data shows more Bitcoin wallets now hold over $10 million worth of Bitcoin. This number has grown by 4.23%, which means big investors and rich companies still trust Bitcoin.These big players are not buying because of hype, they are buying quietly now, hoping for a bigger price jump later.Smaller wallets are doing the same. Wallets with $100,000 to $1 million in Bitcoin have gone up by 2.71%, and wallets with $1 million to $10 million have increased by 2.34%.This steady buying shows that many people still believe Bitcoin will grow more in the future, especially if new ETFs bring in more money and governments stay supportive.Price Still Range-Bound, But Whales Stay CalmRight now, Bitcoin has been stuck trying to break above the key resistance between $107,000 and $110,000. So far, it’s mostly been bouncing around this area without a strong breakout. Even though excitement among smaller traders hasn't fully returned, the Relative Strength Index (RSI) sits at a healthy 55, showing there’s still room for upward momentum without the market being overbought.What’s different this time is the patience. These big players aren’t chasing short-term gains. Their buying looks slow and deliberate, suggesting they expect something bigger in the long run.Bitcoin Eyeing New ATH: $120kHistory shows that whale accumulation often happens before major rallies. If Bitcoin can break above the $110,000 resistance with strong volume and hold its ground, the next target could be the psychological $120,000 mark.For now, this quiet accumulation wave might just be the calm before the next Bitcoin breakout.