Bitcoin Surges Past $100K as Whales Trigger Market Momentum

Bitcoin has broken through the key $100,000 resistance level, now trading around $104,000, marking a critical phase in its bull cycle. A massive withdrawal of 500 BTC, worth approximately $522.6 million, from Binance by a newly activated wallet has stirred attention, signaling strong accumulation from high-net-worth investors. As Bitcoin approaches its all-time high, whale activity is intensifying, suggesting a shift toward long-term holding rather than short-term speculation.

Technical indicators reinforce the bullish sentiment. A golden crossover—where the 50-day EMA moved above the 100-day EMA—has occurred, typically indicating the potential for further upside. The daily RSI remains elevated but not overbought, hinting that the rally still has room to grow. Additionally, BTC dominance is nearing 70%, the highest since 2021, reflecting capital rotation from altcoins into Bitcoin. This trend often precedes major breakouts or sustained rallies.

Volume has notably surged since Bitcoin surpassed the $95,000 level, providing strong confirmation of the move. Current support is forming between $98,000 and $100,000, with the next resistance target lying in uncharted territory beyond previous all-time highs.

The scale and timing of the Binance withdrawal provide a double confirmation alongside macroeconomic tailwinds. It points to growing institutional confidence and a potential start of a new phase in Bitcoin’s price discovery. If dominance continues to climb and favorable macro conditions persist, Bitcoin could be poised for an explosive move.

This surge underscores a broader narrative: whales are not just riding the wave—they’re steering it. And with liquidity tightening and demand rising, Bitcoin may soon chart new highs in 2025.