BTC Pauses Rally as Whales Accumulate Amidst $108,000 Breakout
BTC/USD saw its price action stabilize after reaching new ten-day highs near $108,000 at the June 25 Wall Street open, influenced significantly by liquidity dynamics and divergent investor strategies.
Bullish Liquidity Fails to Sustain Momentum
While Bitcoin briefly surpassed the psychological $108,000 barrier, the subsequent price consolidation indicates resistance at this level. Market data reveals a discrepancy in market participant views, with smaller investors taking profits according to various analytical platforms.
Order Book Structure: A Key Factor
Data from CoinGlass highlights an interesting phenomenon: while sellers positioned bids slightly higher than the recent peak, maintaining presence near all-time highs, the immediate support zone lies within the consolidation range.
“Bulls took liquidity to the upside, resting price near bids increasingly concentrated as sellers lined up just above the recent high, indicating potential immediate resistance.” Cointelegraph Markets Pro & TradingView analysis
Whales vs. Retail: Contrasting Strategies
A divergence in behavior was observed between major players and smaller investors. Analytics from Glassnode, cited on social media, show a stark contrast:
“1–10 BTC wallets continue distributing, while 10–100 $BTC are net accumulators. Others show mixed signals, though the overall Accumulation Trend Score has rebounded from 0.25 to 0.57.” Glassnode/X analysis
This indicates that while smaller investors are liquidating, whales are actively accumulating exposure, signaling confidence in further gains from this current level among “smart money” investors.
Liquidation Heatmap Points to Potential Support Trigger
A significant factor identified by TheKingfisher on the X platform is the concentration of long liquidations near the $107,000 zone:
“Wow, this $BTC optical_opti liq map is wild! Look at that massive wall of long liquidations clustering just below the current price (around 107K–107.1K). Looks like a clear magnet for a potential dip.” TheKingfisher (@kingfisher_btc) on X
Conversely, short liquidations appeared less clustered above current prices.
Market Maker Comments Acknowledge Consolidation
Market monitoring resource Material Indicators noted the interplay between profit-taking and support:
“FireCharts shows … a small block of bid liquidity appearing to keep $BTC price elevated amidst nominal profit-taking. It’s completely normal for traders to take profit here while long-term holders continue to HODL.” Material Indicators/X analysis
Next Potential Support Level: The 50-Day SMA
The co-founder of Material Indicators, Keith Alan, characterized the current consolidation as “normal and healthy” and specifically mentioned the upcoming test of the 50-day simple moving average (SMA), currently around $105,700:
“If price drops below the 50-Day SMA, I’ll anticipate another flush to shakeout weak hands, and I’ll look for my next buying opportunity.” Keith Alan (@keithalan) on X
An accompanying chart reportedly displayed green “buy” signals during sideways movement and red “sell” signals during upward moves.
Disclaimer: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
